Confectionery enterprises to be allocated funds to finance export-related trade operations

BUSINESS 17:18 / 21.11.2023 11366

According to the document, to finance exports and export-related trade operations, confectionery industry enterprises will be allocated financial resources in the following amounts for a period of 2 years, based on the volume of exports carried out over the last 12 months:

•  with an export volume of up to $500 thousand – up to $1 million;
•  with an export volume from $500,000 to $4 million – up to $2 million;
•  With an export volume of more than $4 million – up to $3 million.

Until January 1, 2025:

•  packaging and labeling of products used in the production of a wide range of confectionery products are exempt from customs duties;
•  yarn manufacturers will be reimbursed 50% of transport costs when importing cotton and man-made fiber for their needs (except neighboring countries).

In addition, the decree introduced changes and additions to some regulatory legal documents, which provide for the following:

•  until December 31, 2024, the current amount of the fee charged for the export of yarn will be reduced by 5 times;
•  until December 31, 2024, enterprises that sell at least 50% of dyed fabric and dyed linen on the domestic market in total sales income have the right to pay social tax at a tax rate of 1% and defer payment of property tax for legal entities for a period of three years.

Until October 1, 2026, the import of certain goods necessary for the operation of textile and sewing and knitting enterprises will be exempt from customs duties.

The installment period for renting land and buildings and structures in industrial zones will be extended from the current 12 months to 24 months.

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