Exporters of finished textile products in Uzbekistan to receive benefits
Baku, Azerbaijan, Sept. 18
By Fakhri Vakilov-Trend:
New measures have been approved to support the textile and leather-footwear industries in Uzbekistan, as stipulated by the decree of President of Uzbekistan Shavkat Mirziyoyev "On measures to further develop light industry and stimulate the production of finished products", Trend reports citing the press service of the Ministry of Justice of Uzbekistan.
The document sets the target parameters for the production and export of textile, sewing and knitting, leather and footwear and fur products for 2020–2025.
According to the document, from January 1, 2020, textile and leather-footwear enterprises will receive a number of benefits.
The enterprises that have a share of exports of finished sewing and knitwear in the total revenue of at least 60 percent are exempt from property tax for a period up to January 1, 2023.
In addition, the tax base for the tax on profits of enterprises in the textile, sewing, knitting, leather, shoe and fur industries is reduced over the course of seven years by equal shares by the amount of the cost of building modern sewage facilities.
Benefits will also be given to organizations commissioning modern automated livestock slaughtering complexes; leather processing enterprises are exempt from paying land tax until January 1, 2023.
In addition, from January 1, 2021, when exporting a leather semi-finished product through the customs border, a fee of 10 percent is charged on the value of exported products and a fee of $0.01 is charged for each kilogram of exported yarn when exporting cotton yarn.
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