Tashkent, Uzbekistan (UzDaily.com) -- The Law "On amendments and additions to the Tax Code of the Republic of Uzbekistan" establishes that participants in special economic zones are exempt from income tax for a period of 3 to 10 years, based on the volume of investments they have invested.

In particular, an addition is being made to the Tax Code, according to which they are exempt from income tax on investments in the amount of 3 million to 5 million US dollars for a period of 3 years, in the amount of 5 million to 15 million US dollars - for 5 years and in the amount of USD 15 million and more - for 10 years.

The law provides that the rest of the income tax benefit that was not used by participants in special economic zones after 1 January 2020 will also apply.

It was emphasized that due to the adoption of the Law, participants in the special economic zone will save 47.9 billion soums. As a result, the annual production volumes of enterprises will increase and additional jobs will be created.

The law was approved by the senators.