Certain tax rates at a rate of 50 percent will be imposed on entrepreneurs whose main business activity is poultry farming

    Business 17 June 2021 999

    The Resolution "On additional measures aimed at the development of poultry farming and strengthening the feed base of the industry" was adopted by the President.

    According to the resolution, from June 1, 2021, poultry farms, payers of VAT (Value Added Tax), will receive a subsidy in the amount of 50 soums for each egg grown and sold in their farms and 1,000 soums for each kilogram of poultry meat.

    Until January 1, 2025, the State Fund for Support of Entrepreneurship will cover the following expenses:

    • part of the interest rate on loans up to 10 billion soums, allocated by a commercial bank to business entities engaged in the production of feed and poultry products, to replenish working capital, exceeding the base rate of the Central Bank, but not more than 8 percentage;
    • part of the interest rate on loans up to 10 billion soums, allocated by a commercial bank for the implementation of poultry projects, exceeding the base rate of the Central Bank, but not more than 8 percentage;
    • business entities that have launched a modern complex for slaughtering poultry, including poultry slaughterhouses and freezers, are allocated subsidies in the amount of 10 percent of their project cost, which does not exceed 40 billion soums.

    According to the resolution, funds in the amount of 85 million US dollars for financing poultry projects will be directed to JSCB "Microcreditbank".

    From July 1, 2021 to July 1, 2024, for entrepreneurs whose main business activity is poultry farming, the income tax rate for the main activity (excluding interest received from funds placed in commercial banks), property tax, land tax and tax for the use of water resources will be applied in the amount of 50 percent.

    Until July 1, 2022, subsidies will be provided to entrepreneurs (their authorized representatives) - exporters of eggs, poultry meat and poultry products, as well as importers of soybeans to offset up to 50 percent of the cost of transportation by road, rail and air;

    According to the resolution, the position of First Deputy Chairman of the State Committee for Veterinary and Livestock Development for Poultry was introduced.