BAKU, Azerbaijan, June 30. Azerbaijan has approved the list of feeds and feed additives, which will now be exempt from VAT, the Cabinet of Ministers told Trend.
According to the statement, the Cabinet of Ministers adopted Resolution No. 251, forming the legal basis for the classification of feeds and feed additives.
Following the resolution, tax administration for enterprises engaged in the manufacture and sale of 72 types of feeds and feed additives was simplified, enabling numerous market entities to benefit tax incentives in the manufacture and sale of above products.
From May 2022, the fee on the import of feed and feed additives hasn’t been levied.
All the above measures are important for stabilizing production costs in the livestock and poultry industry. The share of feed expenses in the cost of a product for the manufacture of poultry is nearly 70 percent, and for the manufacture of beef and milk - more than 70 percent.