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Ministry of Justice

Republic of Uzbekistan

 On August 25, 2017 No. 2918

RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF UZBEKISTAN, MINISTRY OF ECONOMICS OF THE REPUBLIC OF UZBEKISTAN, STATE TAX COMMITTEE OF THE REPUBLIC OF UZBEKISTAN, STATE CUSTOMS COMMITTEE OF THE REPUBLIC OF UZBEKISTAN

of July 17, 2017 No. 110, No. 140, No. 2017-37, No. 01-02/8-29

About approval of the Regulations on procedure for application of privileges by the legal entities allocating funds for investments

(as amended on 07-05-2018)

According to the Tax code of the Republic of Uzbekistan, article 7 of the Law of the Republic of Uzbekistan "About the State Tax Service", the Presidential decree of the Republic of Uzbekistan of March 14, 2007 No. UP-3860 "About Additional Measures for Stimulation of Upgrade, Technical and Technological Rearmament of Production" and Item 6 of the resolution of the President of the Republic of Uzbekistan of September 20, 2013 "About measures for further strengthening of stimulation of domestic software developers" the Ministry of Finance, the Ministry of Economics, the State Tax Committee and the State Customs Committee of the Republic of Uzbekistan decide No. PP-2042:

1. Approve Regulations on procedure for application of privileges as the legal entities allocating funds for investments according to appendix 1.

2. Recognize invalid some departmental regulatory legal acts according to appendix 2.

3. This resolution becomes effective from the date of its official publication.

Minister of Finance

 B. Hodzhayev

Minister of Economic Affairs

G. Saidov

Chairman of the State Tax Committee

B. Parpiyev

Chairman of the State Customs Committee

M. Tokhiry

Appendix 1

to the Resolution of the Ministry of Finance, Ministry of Economics, State Tax Committee and State Customs Committee of the Republic of Uzbekistan of July 17, 2017 No. No. 110, 140, 2017-37 and 01-02/8-29

Regulations on procedure for application of privileges by the legal entities allocating funds for investments

This Provision according to the Tax code of the Republic of Uzbekistan, the Presidential decree of the Republic of Uzbekistan of March 14, 2007 No. UP-3860 "About Additional Measures for Stimulation of Upgrade, Technical and Technological Rearmament of Production" and Item 6 of the resolution of the President of the Republic of Uzbekistan of September 20, 2013 No. PP-2042 "About measures for further strengthening of stimulation of domestic software developers" determines procedure for application of privileges by the legal entities allocating funds for investments.

Chapter 1. General provisions

1. For the purpose of application of this provision investments are understood as the direction of means on:

upgrade, technical and technological rearmament of production, acquisition of new processing equipment, expansion of production in the form of new construction, reconstruction of the buildings and constructions used for production needs;

acquisition of new processing equipment, implementation of quality management systems, carrying out certification of products on compliance to international standards, acquisition of complexes for conducting laboratory tests and testing;

acquisition of the software of national production within investment projects on creation of the information systems included in annual Investing program of the Republic of Uzbekistan.

2. For the purpose of this provision the following basic concepts are used:

new processing equipment - the machines, devices, installations, mechanisms which are directly participating in production process of products, works and services from the date of which release there passed no more than three years;

upgrade - the works directed to change of technological or office purpose of fixed asset object, increase in their performance or improvement of other quality characteristics;

technical and technological rearmament - complex of actions for increase in technical and economic indicators of fixed assets, or their separate parts on the basis of implementation of the advanced equipment and technology, mechanization and automation of production, replacement of obsolete and physically worn-out equipment new, more productive. Technical and technological rearmament includes also creation new and expansion of the operating productions;

reconstruction of the buildings and constructions used for production needs - the reorganization of the existing buildings and constructions used for production of goods, performance of works or rendering services connected with enhancement of production and increase in its technical and economic indicators and performed on the project of reconstruction for the purpose of increase in production capacities, improvement of quality and change of the product range (works, services);

expansion of production in the form of new construction - construction of new buildings and constructions for the purpose of their operation in production process of products, performance of works or rendering services.

3. Privileges on the income tax of legal entities and single tax payment (further - tax benefits) according to the procedure, established by this Provision are provided to the legal entities allocating funds for investments.

Privileges on the value added tax and import customs duty (further - customs privileges) on processing equipment, and also the components and spare parts imported by legal entities are provided according to Item 7 of article 211 of the Tax Code of the Republic of Uzbekistan and Item 13 parts two of Article 297 of the Customs code of the Republic of Uzbekistan.

4. By transfer of object of leasing to subleasing tax benefits extend to the subleasing recipient. In this case on the leasing recipient giving object of leasing to subleasing, tax benefits do not extend.

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