Gov’t to cancel some VAT benefits for medicines and medical services

From April 2024, the turnover and import of pharmaceutical products will be subject to VAT.

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In Uzbekistan, some VAT benefits for medicines and medical services are being cancelled, the press service of the Tax Committee reports.

According to changes in tax and budget policy for the next year, from April 1, 2024, VAT benefits on the turnover and import of pharmaceutical products will cease to apply.

VAT will be charged on sales of:

• medical services;
• veterinary services;
• medicines;
• veterinary medicines, medical and veterinary products.

In addition, VAT will be applied to the import of medicines, veterinary medicines, medical and veterinary products, as well as raw materials.

Also, from January 1, 2024, the period of guaranteed purchase of pharmaceutical products increases from the previous 3 to 10 years. Medicines subject to localization are subject to government procurement.

#medicines #VAT #Tax Committee