Imported meat and potatoes exempted from VAT until year end

On May 5, the President signed a law “On making additions and changes to the Tax Code of the Republic of Uzbekistan”.

Photo: iStock

According to the document, for the period from October 10, 2021 to April 30, 2022, turnover on the sale of chicken, frozen fish and poultry in live form is exempt from value added tax, and for the period from October 10, 2021 to December 31 of the current year – meat (beef, lamb), live animals (cattle and sheep) and products of their slaughter, potatoes, as well as their import into the territory of the Republic of Uzbekistan.

In addition, for the period from February 1, 2022 to January 1, 2025, business entities that export through a commission agent, exporting dyed fabric, dyed fabric and finished garments and knitwear, pay social tax at the tax rate at the rate of 1%.

Also, for the period from January 1, 2022 to January 1, 2031, business entities in the areas of local industry, agriculture and services in the Muynak district of the Republic of Karakalpakstan:

- pay income tax, turnover tax, social tax and personal income tax at tax rates of 1%;
- pay tax on property of legal entities, land tax on legal entities and tax on the use of water resources at tax rates of 1% of the amount accrued for these taxes.

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