Baku, Azerbaijan, Jan. 18
By Nigar Guliyeva – Trend:
Uzbekistan's sugar producers are exempted from VAT when importing raw materials before Jan.1, 2019 in accordance with the presidential decree.
The sugar producers in the country are exempted from the payment of value added tax in respect of volumes produced on the basis of imported raw materials from Feb. 1, 2018 to Jan. 1, 2019, the document says.
The measure aims to reduce the cost of production of sugar, and to avoid a deficit in the domestic market.
Earlier, representatives of Uzagroexport told Russian media outlets that it was planned to import 150,000 tons of sugar in November-December 2017 to cover the deficit in the Uzbek market. In particular, contracts were signed with Russian companies for the supply of about 100,000 tons of products.
According to official statistics, the annual sugar demand of Uzbekistan is about 700,000 tons. There are two factories in the country - Khoresm-Shakar (Khorezm Sugar Factory) and Angren Shakar, launched in 1998.
The production of sugar in Uzbekistan by late 2017 decreased by 11.5 percent - to 473,300 tons.