When importing meat products, tax incentives are provided
20/10/2021 21:25
When importing meat products, tax incentives are provided
20/10/2021 21:25
Tashkent, Uzbekistan (UzDaily.com) - Satisfying the demand of the country’s population for meat products and potatoes, which act as the main food product, and ensuring price stability are urgent tasks today.
In recent years, colossal work has been carried out to provide the population with food, especially meat and meat products, in order to maintain price stability.
According to the data, today the total number of cattle in all categories of farms in the country is 13.2 million heads (including 4.7 million cows), 22.5 million heads of sheep and goats.
According to medical standards, 1.5 million tons (42.8 kg per person) of meat is required to meet the population’s demand for livestock products, and this year the forecast is set to produce 1.4 million tons (104 percent by 2020) or 93 percent of the need.
Taking into account the real needs of the population and the special demographic situation in the country, an additional 100-150 thousand tons of meat products are required per year.
As of 1 September 2021, 50.4 thousand tons of meat products were imported (64 percent more than last year). Especially, beef imports increased by 70 percent over the same period last year.
According to the results of the analysis, today the average import price of 1 kg of imported beef is 37.5 thousand soums, after payment of customs duties (VAT per 1 kg of beef - 5,700 soums) - 43.2 thousand soums. This shows that the growth of the average value of 1 kg of beef over the past month amounted to 5-7 thousand soums.
In this regard, in order to provide the population with meat at stable prices, a draft law “On additional measures to provide the population with food products” has been developed.
At the regular meeting of the Legislative Chamber of the Oliy Majlis, held on 19 October, this draft law was considered, containing a number of innovations on the above issue.
The draft law considered by the deputies consists of 3 articles and includes the introduction of a number of key changes and additions to the Tax Code of the Republic of Uzbekistan. In particular, an addition is being made, providing for the provision of VAT benefits for import into the territory of the Republic of Uzbekistan, as well as the turnover for the sale of meat (beef, lamb, chicken), live animals (livestock and poultry) and products of their slaughter, potatoes and frozen fish.
Also, it is planned to exempt from value added tax import into the territory of the Republic of Uzbekistan, as well as turnover for the sale of meat (beef, lamb, chicken), live animals (livestock and poultry) and products of their slaughter, potatoes and frozen fish.
According to the deputies, the adoption of the bill will serve to ensure a guaranteed supply of basic food products, maintain price stability, and increase the income of the population.
After active controversy, the bill was adopted by the deputies.
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