Ministers Scrap VAT on Imported Vegetable Oil
Kyrgyzstan has exempted imported vegetable oil from value added tax (VAT), according to a decision made by the Cabinet of Ministers. The move is aimed at ensuring the country’s food security and stabilising market prices. From 15 May 2023 to 31 December 2024, a zero VAT rate has been set for taxable imports of raw vegetable oil, which is imported into Kyrgyzstan and delivered to the manufacturer of vegetable oil. The zero VAT rate also applies to taxable supplies of raw vegetable oil made to the address of a vegetable oil producer, while taxable supplies of vegetable oil produced from domestic raw materials or from imports to Kyrgyzstan will also be exempt from VAT. In addition, the State Material Reserves Fund will benefit from the zero VAT rate for taxable imports and supplies of vegetable oil.
