September 27, 2021
Support for participants of special economic zones
According to the Resolution of the President of the Republic of Uzbekistan “On measures to further support the participants of special economic zones” No. PP-5243 dated 14.09.2021 the following privileges have been introduced for the participants of special economic zones:
- due to the cancellation of income tax benefits for participants of special economic zones from January 1, 2020, the unused part of these tax benefits will be fully applied for participants included in the register of participants of special economic zones until October 1, 2020 for 3 to 10 years.
- from September 15, 2021, participants in special economic zones are granted the right to defer the repayment (payment by installments) of VAT and customs duties in the production of goods and the import of components, raw materials and materials for their own needs for up to 120 days without accruing and claiming the collateral for payment of interest on them.
Participants of special economic zones will be reimbursed the excess VAT within 7 days. In this case, in the event that the results of a desk check tax audit determine the unreasonable amount of VAT covered, this amount will be collected in the prescribed manner.