Exporters in Uzbekistan gets tax breaks

Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev signed a decree “On measures to further stimulate the export potential of domestic producers” on 29 November.

According to the document, from 1 January 2019, legal entities, having a share of exports in the total revenue from the sale of goods (works, services) more than 15 percent, including through a commissioner (attorney), will receive tax benefits.

The decree notes that exporters receive benefits for the payment of corporate income tax in terms of profits attributable to the volume of goods (works, services) exported, and a single tax payment, in terms of goods (works, services) goods for export.

Tax incentives do not apply to the export of commodities, as well as international transportation and transportation services through pipelines and gas pipelines.

Funds released as a result of the application of the above benefits are subject to collection to the State Budget of the Republic of Uzbekistan with accrual of interest in accordance with the law in the following cases:

• lack of documentary evidence of the export of goods (works, services) in accordance with the law;
• not ensuring the receipt of foreign exchange earnings within 180 days from the date of release of goods in the export mode.

The State Tax Committee was charged with establishing system control over the use of benefits.