Uzbekistan takes additional measures to support business during coronavirus pandemic
BAKU, Azerbaijan, May 19
By Ilkin Seyfaddini - Trend:
President of Uzbekistan signed a decree on additional measures to support the population and businesses during the coronavirus pandemic, Trend reports citing the Ministry of Finance of Uzbekistan.
According to the document, from June 1 through September 1, 2020, small businesses; markets and shopping malls; cinemas; catering facilities; public transport; sports and recreation facilities; legal entities engaged in transportation of passengers, provision of household services and rental of premises will be exempt from property tax and land tax.
In addition, small businesses are written off the amount of property tax and land tax for April and May, for which interest-free deferral (installments) is provided in accordance with the presidential decrees of March 19, 2020, and April 3,2020, as well as of the fines accrued on land tax and property tax as of May 15, 2020, formed from January 1, 2020.
Furthermore, business entities are entitled to a deferred payment of value added tax on the import of goods (works, services) for up to 120 days.
"Microfirms and small enterprises working for at least one year prior to the day of application to the customs authorities are entitled to a deferred payment of customs duty and excise tax levied on import of goods until 1 July 2020 with subsequent payment of the deferred amount within 120 days, except for consumer goods," the message said.
From 1 May to 1 July 2020, the social tax rate for micro-firms and small businesses is reduced from 12 percent to one percent.
Exception include state enterprises and legal entities with the state share in the authorized capital (authorized capital) at the rate of 50 percent and more, the message said.
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