President provides preferences to businesses in Karakalpakstan and Khorezm region
27/03/2017 16:08
President provides preferences to businesses in Karakalpakstan and Khorezm region
27/03/2017 16:08
Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev signed a resolution “On measures on creating additional favourable conditions for doing entrepreneurship activities in Karakalpakstan and Khorezm region” on 17 March 2017.
The resolution provided several preferences for business entities of Karakalpakstan and Khorezm region.
Uzbek leader exempted legal entities, registered and operating in Karakalpakstan and Khorezm region, from mandatory sales of hard currency revenue from export of industrial products of own production, except raw materials.
Producers of pharmaceutical products and medicaments, electrotechnical products (except cable and wire products), as well as construction materials were exempted property tax, land tax, tax for improvement and development of social infrastructure, as well as mandatory contributions to the Republican Road Fund under the Cabinet of Ministers till 1 January 2022.
The resolution said that legal entities, specializing in production of pharmaceutical products and medicaments, electrotechnical products (except cable and wire products), as well as construction materials, are those, which receive 60% of net revenue from sale of these products.
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