WNAM REPORT: From Oct. 1 of this year, all motor gasoline, special, light and middle distillates, other gasoline and diesel fuel are subject to mandatory labeling. Uchkun OJSC is appointed the state operator of the project of public-private partnership on the introduction of fuel labeling system, as per reports.
Uchkun reported that the introduction of the fuel labeling program is aimed at ensuring full legal turnover of fuels and lubricants in Kyrgyzstan.
“Labeling does not imply an increase in tax rates or the introduction of new taxes. The program will create a level playing field for all market participants, which will eliminate unfair competition and provide a fair business environment, which will benefit those who do business honestly,” the report said.
“Kyrgyzstan will be the first country in the CIS to introduce a state fuel labeling system. Uchkun has experience in controlling the taxation of excise stamps, as well as in the field of application of molecular markers and production of protected printed products, and the fuel labeling project is a logical continuation of this activity.
To date, Uchkun OJSC is ready to provide fuel labeling throughout the territory of Kyrgyzstan.
The fuel labeling program using a molecular marker, developed in cooperation with international experts, will be an important step in ensuring the transparency of the fuel market. It will create a level playing field for business, protect honest companies and strengthen the Kyrgyz economy.
At the moment, the fuel labeling process has been successfully launched and is being actively promoted in close cooperation with the tax authorities. Uchkun OJSC is already receiving applications from major market participants and contracts with companies have been signed.
