Uzbekistan currently processes 33% of lint and plans to reach 70% by 2016. During the Uzbekistan International Cotton Expo on October 12-13, 2011, Uzbekistan contracted 600,000 tons of lint and textiles, with a transaction volume of 550 million U.S. dollars. 660 representatives from 330 companies in 38 countries attended the fair.
For many years, preferential policies such as export tax rebates (20% VAT) and 15% discount on cotton purchases have been eliminated for cotton spinning companies. From January 1, 2011, Uzbekistan's tax authorities will no longer accept applications for export VAT refunds from cotton yarn exporters.
For many years, preferential policies such as export tax rebates (20% VAT) and 15% discount on cotton purchases have been eliminated for cotton spinning companies. From January 1, 2011, Uzbekistan's tax authorities will no longer accept applications for export VAT refunds from cotton yarn exporters.
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