Participants of e-commerce and Special Economic Zones will be provided with tax preferences

Uzbekistan is expected to provide land concessions for e-commerce participants and gardens founded in the newly occupied lands.  This is stated in the draft law «On amendments and additions to the Tax Code of the Republic of Uzbekistan», which was discussed yesterday, 25 April at the meeting of the fraction of SDP (Social Democratic Party) «Adolat»(Justice) in the Legislative Chamber of the Oliy Majlis (Parliament).

It is noted that the draft law implies the provision of incentives for e-commerce participants on income or turnover tax, regardless of whether they were included in the national registry.  It is also being planned to increase the grace period from three to five years for land tax from legal entities to land occupied by new gardens, vineyards, and mulberry trees.

In addition, from 1 January 2022 to 1 January 2031, tax incentives will be granted to enterprises in the field of local industry, agriculture, and services in the Muynak district of the Republic of Karakalpakstan.  After discussions, faction members supported the draft law.

The faction also discussed the bill «On amendments and additions to Article 473 of the Tax Code of the Republic of Uzbekistan», which provides for the provision of preferences to the participants of special economic zones.