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Ministry of Justice

Republic of Uzbekistan

 On August 30, 2017 No. 2924

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

of July 31, 2017 No. 116, No. 141, No. 2017-38

About approval of the Regulations on procedure for application of privileges by the participating organizations of small industrial zones of the city of Tashkent

(as amended on 27-05-2019)

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 resolution of the President of the Republic of Uzbekistan of May 18, 2017 "About creation of small industrial zones in the city of Tashkent" the Ministry of Finance, the Ministry of Economics and the State Tax Committee of the Republic of Uzbekistan decide No. PP-2973:

1. Approve Regulations on procedure for application of privileges by the participating organizations of small industrial zones of the city of Tashkent according to appendix.

2. 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

Appendix

to the Resolution of the Ministry of Finance, Ministry of Economics and State Tax Committee of the Republic of Uzbekistan of July 31, 2017 No. No. 116, 141 and 2017-38

Regulations on procedure for application of privileges by the participating organizations of small industrial zones of the city of Tashkent

This Provision according to the Tax code of the Republic of Uzbekistan, the resolution of the President of the Republic of Uzbekistan of May 18, 2017 No. PP-2973 "About creation of small industrial zones in the city of Tashkent" determines procedure for application of privileges by the participating organizations of small industrial zones of the city of Tashkent.

Chapter 1. General provisions

1. According to Item 7 of the resolution of the President of the Republic of Uzbekistan of May 18, 2017 No. PP-2973 "About creation of small industrial zones in the city of Tashkent" the organizations created in small industrial zones in the city of Tashkent (further - members of MPZ), are exempted for a period of two years, since decision date about its placement in the territory of small industrial zones in the city of Tashkent, from the tax discharge on property and the income tax of legal entities, and also single tax payment (for the subjects applying simplified taxation system) (further - tax benefits).

2. Tax benefits are provided on condition of introduction by members of MPZ of investments in amount at least 3000-fold size of minimum wage.

If within year from the date of decision making about placement of the organization in the territory of the small industrial zone the amount of the brought investments constitutes less 3000-fold size of minimum wage, tax benefits are cancelled with recovery of the obligation on their payment according to the procedure, established by the legislation. At the same time in the years ahead the member of MPZ loses the right to application of tax benefits.

3. If the annual net revenue of the member of MPZ constitutes less 2000-fold size of minimum wage, tax benefits are cancelled with recovery of the obligation on their payment for the corresponding 12th monthly period according to the procedure, established by the legislation.

For the purpose of application of tax benefits the annual net revenue is determined proceeding from the net revenue received for every 12th monthly period since month in which the legal entity became the member of MPZ.

Members of MPZ for confirmation of annual net revenue attach the Certificate of annual net revenue to Calculation of the income tax of the legal entities or Calculation of single tax payment represented for the accounting period for the 12th monthly period in form according to appendix to this Provision. At the same time the reference is constituted for every 12th monthly period since month in which the legal entity became the member of MPZ.

4. Action of tax benefits is prolonged in addition for two years if the share of export of the made products constitutes at least 30 percent in total amount of realization. At the same time, during prolongation of privileges the member of MPZ shall satisfy the conditions provided in Item 3 this provision.

If following the results of the first year of additional grace period the share of export of the made products constitutes less than 30 percent in total amount of realization, tax benefits for this period are cancelled with recovery of the obligation on their payment according to the procedure, established by the legislation and the member of MPZ loses the right to further application of tax benefits.

If following the results of the second year of additional grace period the share of export of the made products constitutes less than 30 percent in total amount of realization, tax benefits for this period are cancelled with recovery of the obligation on their payment according to the procedure, established by the legislation. At the same time tax benefits for the first year of additional grace period remain.

Chapter 2. Application of tax benefits

5. The directorate on management of MPZ within one day from decision date about placement of the organization as the member of MPZ in notifying procedure sends to bodies of the State Tax Service for place of registration of the legal entity:

the copy of the solution of the contest committee on selection and accommodation of subjects of entrepreneurship in small industrial zones;

data on the volumes of investment brought by members of MPZ provided by the agreement on project implementation. If investments are brought within year, data are represented no later than the 10th after the expiration of fixed term.

6. If in the first year the annual net revenue of the member of MPZ constitutes less 2000-fold size of minimum wage, and in the second year the amount of annual net revenue corresponds to the established size (the 2000-fold size of minimum wage suffices), for the member of MPZ the right of application of tax benefits only in the second year remains.

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