Adopts new tax incentives to guarantee wider private sector participation
08 Apr 2022
On 8 April 2022, the President of Uzbekistan signed Decree No.UP-101, which introduces several measures to improve the business environment for private sector development. They include:
- Allowing foreign investors to invest in real estate objects under construction save some restrictions;
- Eliminating monopolies in several areas, including the supply of liquefied gas to the population and in social infrastructure facilities; the processing of used technical oils; the issuance of origin of goods certificates; the verification of measuring instruments; the certification of cotton products and agricultural seeds, petroleum storage services etc.;
- Extending to all companies the tax and customs benefits previously limited to selected entities in the following sectors: fisheries management, silk industry, leather footwear and fur industry, industrial processing of medicinal plants;
- Removing some tax and customs fees incentives in the areas of education, tourism and entertainment, fruits and vegetables production, as well as several other tax incentives established for private and public entities;
- Reducing the personal income tax for non-residents to 12 per cent (the same tax rate is set for residents);
- Determining the dates for the partial privatization of Uzbekneftegaz, Thermal Power Plants and Uzbekistan Airways, and for 10 per cent share of UzAuto Motors.
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Type:
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Entry and establishment (Ownership and control, Access to land)
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Treatment and operation (Corporate taxation, Competition policy)
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Promotion and facilitation (Investment incentives)
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Industry:
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Primary (Agriculture, forestry and fishing)
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Manufacturing (Manufacture of textiles, wearing apparel, leather and related products, Manufacture of basic pharmaceutical products and pharmaceutical preparations, Other manufacturing)
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Services (Electricity, gas, steam and air conditioning supply, Construction, Transportation and storage, Education, Human health activities, Arts, entertainment and recreation)
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Sources:
