Baku, Azerbaijan, April 7
By Ali Mustafayev – Trend:
Uzbekistan will open the first free economic zone (FEZ) for the development of fish farming, Uzbek media outlets reported.
The FEZ will be constructed on the basis of property, land and water bodies transferred by the court decision to the municipality of the Tashkent region. The FEZ will operate for 30 years with the possibility of further extension.
The benefits of the FEZ will include special tax, customs and currency regimes.
All companies, depending on the volume of investments, will be exempt from payment of land tax, profit tax, property tax of legal entities, tax on improvement and development of social infrastructure, single tax payment, as well as mandatory contributions to target state funds. The companies will also receive a number of customs preferences.
With an investment volume from $300,000 to $3 million, an investor will use benefits for three years, from $3 million to $5 million - for 5 years, from $5 to $10 million - for 7 years, from $10 million and further - for 10 years.