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Economy
12/01/2009
GM Uzbekistan official dealers get 5-yr exemption from VAT
GM Uzbekistan official dealers get 5-yr exemption from VAT
Tashkent, Uzbekistan (UzDaily.com) --
Uzbek President Islam Karimov has granted a five-year exemption from the value-added tax (VAT) to official dealers of carmaker GM Uzbekistan for repairs and servicing of vehicles produced at the plant.
The measure is expected to boost domestic demand for GM Uzbekistan’s cars and reduce the costs of after-sale maintenance, a spokesman for the tax inspectorate said.
GM Uzbekistan produces cars under Chevrolet brand. The plant’s designed production capacity amounts to 250,000 cars per year. Uzbekistan’s Uzavtoprom holds 75% in GM Uzbekistan and US automaker General Motors (GM) holds 25%.
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