Uzbekistan to provide new benefits for light industry 

The President of Uzbekistan signed a decree “On measures for further development of light industry and stimulate the production of finished goods”, the Telegram-channel of the Justice Ministry reported.

According to the document, from January 1, 2021:

•  when exporting semi-finished leather products through the customs border, a fee of 10% is charged on the value of exported goods;

•  when exporting cotton yarn through the customs border, a fee of $0.01 is charged for each kilogram of exported yarn.

From January 1, 2020:

•  enterprises, having a share of export of finished sewing and knitwear products in the total revenue of at least 60%, are exempt from property tax for a period until January 1, 2023;

•  the tax base for income tax of textile, sewing, knitting, leather, shoe and fur industries is reduced over the course of seven years in equal shares by the amount of expenses for the construction of modern treatment and sewage facilities;

•  organizations commissioning modern slaughterhouses, leather processing enterprises are exempt from land tax until January 1, 2023;

•  foreign consultants of the Associations Uztukimachiliksanoat and Uzcharmsanoat pay income tax in the amount of 50% of its established rate on income from sources in the Republic of Uzbekistan.