PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of May 5, 2020 No. UP-5989

About urgent measures for support of the textile and sewing and knitted industry

For the purpose of mitigation of negative impact of world economic crisis in connection with coronavirus pandemic on development of the textile and sewing and knitted industry:

1. Determine that:

cotton fiber of national production of basic quality is issued on the exchange biddings at the starting price which is not exceeding the cost of the quotation of the future of the New York Mercantile Exchange for the closest month of delivery;

the term during which carrying out final settlements on the cotton fiber realized to the domestic textile enterprises at the exchange biddings for national currency till April 1, 2020 is performed is prolonged from 90 to 150 days.

2. Exempt for up to January 1, 2022 from payment of customs duties the imported raw materials and materials according to appendix.

3. Determine that the simplified procedure for compensation of the value added tax according to which the tax amount on value added which is subject to payment (paid) on actually received goods (services) used for the exported textile and sewing and knitted goods (services), except for yarn and fiber is accepted to offsetting regardless of the amount of the currency earnings which arrived into accounts of the company of the textile and sewing and knitted industry in commercial bank of the Republic of Uzbekistan and is subject to return based on the application of the exporter submitted in accordance with the established procedure is effective from May 1 to December 31, 2020.

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