Agricultural supplies to be exempted from VAT through 2025
During its plenary session on April 23, Parliament approved the laws on value-added tax exemption and customs duty exemption.
In accordance with the laws, new tractors, combines, machinery, irrigation equipment, forestry and poultry machinery, fertilizers, and pesticides that are essential for agricultural production will be exempted from value-added tax and customs duty.
The Law on Value-added Tax Exemption will be effective through January 1, 2025, and the Customs Duty Exemption Law is effective through January 1, 2022.
The initiators of the laws believe that their adoption will create conditions for stabilizing the growth of agricultural production, improving the economic capacity of farmers and producers, introducing new technologies, farming in an environmentally friendly manner, supporting employment in farming, and ensuring supply of healthy and safe food.