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Economy 11/02/2023 Tax incentives have been introduced for entrepreneurs exporting finished furniture products
Tax incentives have been introduced for entrepreneurs exporting finished furniture products

Tashkent, Uzbekistan (UzDaily.com) -- A Presidential Resolution “On additional measures to stimulate the production and export of furniture products” was adopted, the press service of the Ministry of Justice reports.

According to the Resolution, from 1 February 2023 to 1 January 2024:

in case of reimbursement of part of the rent payments for office buildings, retail and warehouse premises abroad to business entities exporting finished furniture products, the rate of the area of these non-residential premises increases from 100 square meters to 250 square meters;

when attracting foreign specialists, such as process engineers, paint masters and designers, domestic enterprises, in the annual revenue of which the share of proceeds from the export of finished furniture products is at least 30 percent, 25 percent of the wages of these specialists are reimbursed, but in part, not exceeding 9 times the minimum wage.

From 1 February 2023 to 1 January 2024, a “zero” customs duty rate is applied on the import of raw materials, spare parts, fittings and accessories used in the production of the corresponding types of furniture.

Also, until 1 January 2024, the effect of the "zero rate" of the customs duty, provided for by the Resolution of the President from 12 June 2021 No. PP-5155, was extended for the import of raw materials, spare parts, fittings and accessories to Uzbekistan.

 

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