VAT exemptions for a number of foodstuffs to be extended

At the January 11 session of the Legislative Chamber of Oliy Majlis, the draft law “On amendments to Article 483 of the Tax Code of the Republic of Uzbekistan aimed at ensuring the stability of prices for basic foodstuffs” was adopted in the 2nd reading.

It is noted that until April 30, 2022, the following will be exempt from VAT:

•  import of vegetable oil, sunflower and flax seeds, as well as soybeans into the territory of the Republic of Uzbekistan;
•  turnover in the production and (or) sale of vegetable oil (except for cottonseed oil);
•  turnover for the sale of meat (cattle, sheep, poultry), live animals (cattle and poultry) and products of their slaughter, potatoes and frozen fish, as well as their import into the territory of the country.

It was noted that the adoption of this bill will serve to ensure uninterrupted supply of the population with basic foodstuffs, maintain price stability and increase incomes.

For information, import of sunflower and soybean seeds and vegetable oil, as well as production and sale of vegetable oil in the domestic market from May 1 to December 31, 2021, meat (cattle, sheep, chicken), live animals (cattle and poultry) and their products, potatoes and frozen fish sales turnover, as well as their importation from October 10 to December 31 was exempt from value added tax.