BAKU, Azerbaijan, Sept. 15
By Fakhri Vakilov – Trend:
Uzbekistan will provide new benefits to participants in special economic zones (SEZ), Trend with reference to the presidential decree.
Uzbekistan President Shavkat Mirziyoyev instructed the Ministry of Investments and Foreign Trade to prepare a draft law within two months, providing for the provision of income tax benefits to participants in special economic zones based on the volume of investments they have made.
In addition, by July 1, 2022, proposals should be developed on further improving the activities of special economic zones, their tasks and expected results, as well as determining their locations based on international experience.
Moreover, in connection with the cancellation of income tax benefits for participants in special economic zones from January 1, 2020, the unused part of these tax benefits will be fully applied for participants in special economic zones included in the register of participants in special economic zones as of October 1, 2020 year, for a period of 3 to 10 years from the date of their inclusion in the register, based on the volume of investments made by them.
Moreover, from September 15, 2021, participants in special economic zones are granted the right to defer the repayment (payment by installments) of value added tax and customs duties in the manufacture of products and the import of components and raw materials for their own needs for up to 120 days without accruing and claiming security for payment interest on them.
The president instructed the Ministry of Finance and the State Tax Committee to strictly observe the procedure for reimbursing the participants in special economic zones for the amount of excess value added tax within seven days.
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