The innovations relate to the rules under which goods can be included in the list exempt from value-added tax (VAT) when exported from free economic zones (FEZ) to the rest of the country.
According to the updated version of the document, goods that will enter this list will be exempt from VAT for a period of one year from the moment the Cabinet of Ministers makes a decision on their inclusion.
Additionally, the resolution has changed the criteria for adding goods to the list. In particular, the share of imports required to confirm the import-substituting nature of the products has been reduced from 80 to 50 percent.
Furthermore, the mechanism for submitting applications for the inclusion of goods in the list has been clarified. Now, documents will be accepted by the general directorates of the FEZ, which will conduct economic calculations and assess the compliance of the products with the established criteria.
After this, proposals will be sent to the National Investment Agency, where an interdepartmental working group will be formed, consisting of representatives from various government bodies, including the Tax and Customs Services, as well as the National Statistical Committee.
Based on the results of the review, the agency will be able to prepare a draft decision for the Cabinet of Ministers on amending the list of goods.
The new rules will come into effect 15 days after official publication.
