Uzbekistan grants benefits to domestic producers of agricultural machinery

The President has signed the decree “On additional measures to create a healthy competitive environment in the field of agricultural engineering.”

Photo: KUN.UZ

According to the document, domestic producers of agricultural machinery engaged in agricultural engineering activities:

- are exempt from paying customs payments (with the exception of VAT and customs duties) for the import of spare parts not produced in Uzbekistan on the basis of special lists for a period until January 1, 2022;

- may have deferred payment of VAT for up to 270 days starting from the day of placing goods in “release for free circulation” customs mode when importing components, raw materials and materials for production and service of agricultural machinery.

In addition, according to the decree, lists of spare parts and components to be imported, as well as adjustments thereto, shall be made by the authorized organization, if approved by the “Center for Comprehensive Examination of Projects and Import Contracts” unitary enterprise any importing organization obtains the right to import the goods specified in the lists in the prescribed manner.

#tax #agriculture #VAT