President extends tax preferences to JV MAN Auto – Uzbekistan

MAN Auto-Uzbekistan, an Uzbek-Germany joint venture on production of trucks, was exempted from payment of all taxes in Uzbekistan, as well as mandatory payments to the Republican Road Fund under the Ministry of Finance of Uzbekistan.

The enterprise will not pay customs duties (except customs registration fees) to some goods, imported to Uzbekistan.

The preferences were extended in line with the resolution of the President of Uzbekistan Islam Karimov “On forecast of main macroeconomic figures and parameters of State Budget of Uzbekistan for 2014”.

In 2009, MAN Nutzfahrzeuge AG and Uzavtosanoat created MAN Auto-Uzbekistan JV on assembly of trucks and other equipment in Samarkand. The charter capital of the venture is 3 million euros. Uzavtosanoat holds 51% stake in the venture, and MAN Nutzfahrzeuge – 49%.