On measures to further develop light industry and stimulate the production of finished products

A resolution of the President “On measures to further develop light industry and stimulate the production of finished products” was adopted.

The Resolution approved the target parameters for the production and export of textile, sewing, knitting, leather, shoe and fur products with high added value on the basis of deep processing of raw materials based on market demand for the 2020-2025 years.

According to the decree, from January 1, 2021:

the export of semi-finished leather through the customs border of the fee is charged on the value of exported goods in the amount of 10 per cent;

the export of cotton yarn through the customs border of the fee is charged for each kilogram of yarn exported in the amount of US $ 0.01.

From January 1, 2020:

enterprises with a share of export of finished sewing and knitwear in the total revenue of at least 60 percent are exempt from property tax for a period up to January 1, 2023;

the tax base for income tax of textile, sewing, knitting, leather, shoe and fur industries is reduced over the course of seven years in equal shares by the amount of expenses for the construction of modern treatment and sewage facilities;

organizations commissioning modern automated systems for slaughtering cattle and also leather processing enterprises are exempt from land tax until January 1, 2023;

foreign consultants for associations “Uztekstilprom” and “Uzcharmsanoat” pay individual income tax in the amount of 50 percent of its fixed rate on income from sources in the Republic of Uzbekistan.