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Deadlines for granting income tax benefits to participants in special economic zones have been established

The Law “On amendments and additions to the Tax Code of the Republic of Uzbekistan” (LRU No. 783 of 12.07.2022) was signed by the President.

The additions made set the deadlines for granting income tax benefits to participants in special economic zones. According to the law, when exempted from income tax, their grace period depends on the size of the investment:

– for investments from 3 million US dollars to 5 million US dollars – 3 years;

– for investments from USD 5 million to USD 15 million – 5 years;

– for investments from 15 million US dollars and more – 10 years.

The specified terms are calculated from the date of acceptance of the production facility into operation.

The law comes into force from the day of its official publication.

 

Source: www.uzdaily.uz