Uzbekistan taking measures to curb a rise in domestic prices

The Lower House of Uzbekistan’s Parliament has passed a bill aimed to prevent unwarranted price rises. Imported vegetable oils, sunflower seed, linseed, and soybeans shall be exempted from VAT from May 1 to December 31, 2021. The vegetable oil production and (or) sales turnover shall also be temporarily exempted from VAT, UkrAgroConsult reports.

At the same time, entrepreneurs will be permitted to export at most 50% of sunflower oil and vegetable fats obtained from imported sunflower seed.

The bill is to be approved by the Senate and signed by the President of Uzbekistan.

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