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Business of Karakalpakstan will receive tax incentives

To accelerate the development of all spheres of life in Karakalpakstan, measures have been developed for the next three years. For each district, “points of growth” have been identified – two specific types of activities that will be intensively developed.

This was discussed at an extraordinary session of the Jokargy Kenes of Karakalpakstan, held on October 2 with the participation of President of Uzbekistan Shavkat Mirziyoyev.

Business entities engaged in activities defined for each of the 16 districts of Karakalpakstan will be exempt from paying land tax, property tax, turnover tax for small businesses, income tax for individual entrepreneurs for a period of three years.

A total of 32 types of activities will be identified.

New industrial enterprises in Takhtakupir, Bozataus and Shumanai districts, which have a low level of development, will be provided with tax and customs privileges for a period of three years.

To give impetus to development and accelerate solution of problems, heads of ministries and banks are assigned to each region and city of Karakalpakstan.