Participants of Muynak industrial zone to receive special tax preferences

President of Uzbekistan signed the resolution “On additional measures on economic development and ensuring employment of population of Muynak district of Karakalpakstan in the period of 2017-2018”.

According to the resolution, small industrial zone Muynak will be created at 20.5 hectares of land of former Muynak fish tinning plant and the fifth construction department.

Uzbek leader provided unprecedented tax breaks for the participants of small industrial zone Muynak.

Newly created and existing enterprises in the sphere of industry are exempted from payment of all taxes from 1 April 2017 to 1 January 2027.

Individual entrepreneurs, registered and operated in Muynak district, are exempted from payment of fixed tax.

The business will not also pay income tax for dividends, paid to the founders of the companies.