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Uzbekistan: The Order of Application of Tax and Customs Privileges Under the Localization Program Adopted
Source: economics.uzreport.uz
Source Date: Friday, July 24, 2015
Focus: Knowledge Management in Government
Country: Uzbekistan
Created: Jul 28, 2015

The Decree of the Ministry of finance, Ministry of foreign economic relations, investments and trade, Ministry of economy, State Tax Committee and State Customs Committee approved the Regulation on the procedure of application of tax and customs privileges to enterprises whose projects are being implemented under the Localization Program.

The norms of this Regulation shall apply to enterprises included in the Program of localization of production of finished products, components and materials (approved by Decree of the President dated 27.01.2009, № ПП-1048), and also in Appendix No. 3 to the Decree of the President "On additional measures to increase production and expand the range of domestic consumer goods” dated 30.04.2013 # ПП–1961.

According to the document these enterprises are exempt from:

- the profit tax for legal entities, unified tax payment (for entities applying the simplified system taxation) in terms of products produced by the projects of localization;

- the property tax for legal entities in part of fixed assets used for the production of localized products;

- customs duties (except customs clearance fees) for imported technological equipment and spare parts and components not produced in the Republic, used in the technological process in the production of localized products.

The adopted Regulation also regulates the procedure of providing these privileges.

The funds released in connection with the provision of privileges are directed to the creation, expansion, reconstruction, modernization, technical and technological re-equipment of existing facilities, implementation of quality management systems, acquisition of raw materials required for the production of localized products, the promotion of engineering and technical personnel of enterprises involved in the implementation of the Localization Program.

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