Uzbekistan adopts measures to expand export potential of textile and garment and knitwear industry
13/02/2019 07:51
Uzbekistan adopts measures to expand export potential of textile and garment and knitwear industry
13/02/2019 07:51
Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev signed a resolution “On measures to further deepen reforms and expand the export potential of the textile and garment and knitwear industry”.
Starting from 1 April 2019, expenses related to the payment of interest on loans from commercial banks allocated to garment and knitwear enterprises in 2019-2021, exporting at least 80% of finished goods, will be covered by the State Fund for the Support of Entrepreneurial Development activities in the following order:
When selling cotton fiber of the 2019 harvest, the value added tax is calculated on the basis of the actual price of its sale.
An automated program will be developed to review applications from business entities to return the amount of value added tax generated by turnover taxed at a zero rate.
The President instructed to develop a "Concept for the accelerated development of the textile and garment and knitwear industry for the period 2019-2025," which envisages bringing the volume of exports of textile products to US$7 billion by 2025.
A single information portal of textile and garment and knitwear enterprises will be created.
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