Uzbekistan

Uzbekistan

New incentives to foreign investors in mining and natural resources sectors

07 Oct 2021

On 6 October 2021, the Presidential Decree No. UP-6319 “On measures for further stimulation of geological exploration and improvement of taxation for subsoil users” was signed. It introduces a number of tax and customs incentives to reduce the burden at the initial stage of the investment cycle for both national and foreign investors in capital-intensive sectors including: oil, natural gas, gold, copper, tungsten and uranium. The incentives include reduced taxes on subsoil use and customs duty exemptions on equipment, material and technical resources and special equipment not produced in the country.