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of August 31, 2022 No. UP-213

About additional measures for growth in prosperity of the population of the Republic of Karakalpakstan by the accelerated development of entrepreneurship, innovative technologies and infrastructures

(as amended on 10-11-2023)

For the purpose of effective use of social and economic, including potential and investment potential of the Republic of Karakalpakstan, development of business activity and production incentive of competitive products with high value added, expansions of range of the financial services rendered to entrepreneurs, employment of the population by creation of infrastructure conditions, and also transition to the new level of economic and social development of the region:

1. Determine the main directions of achievement of acceleration of innovative processes in industries of economy of the Republic of Karakalpakstan, growth of efficiency of use of resources and the accelerated development of the region:

improvement of investment and business environment in the region, employment of youth;

increase in production of agricultural products and creation of the favorable circle for agrobusiness due to effective use of land and water resources;

creation of additional opportunities in the field of education and conditions for raising on the new level of development of human capital;

expansion of scope of programs of social protection.

2. Within the direction on improvement of investment and business environment in the region and employment of youth in the Republic of Karakalpakstan:

a) during the period from January 1, 2023 to January 1, 2028 for the subjects of entrepreneurship located in all areas of the Republic of Karakalpakstan and performing activities in this region:

lower by 50 percent the tax rates on the income tax, the receipts tax, the property tax and the land tax from legal entities;

lower the social tax and establish the tax rate in the amount of 1 percent;

to reduce the social tax paid by individual entrepreneurs by 12 times for persons performing activities in the territory of the cities by 6 times - for persons performing activities in the territory of areas and to establish in single size of basic settlement size in year.

At the same time the privileges established by this Item do not extend to large taxpayers, permanent organizations, state-financed organizations and the state companies, legal entities with the state share in authorized fund (capital) in the amount of 50 percent and more;

b) during the period from October 1, 2022 to January 1, 2028:

70 percent of transportation expenses when exporting products made in the Republic of Karakalpakstan to the foreign states, including in transit on the republic of the purchased raw materials for production of the exported products to cover with the Agency of promotion of export based on the list established by Government commission concerning foreign trade, investments, development of the local industry and technical regulation (further - Government commission);

c) provide borrowed funds to young entrepreneurs in the Republic of Karakalpakstan for the purpose of acquisition of the equipment necessary for production and rendering services, based on the decision of Government commission it is direct through Fund of support of young entrepreneurs under the Ministry of investments and foreign trade for a period of 7 years.

At the same time these allocated borrowing facilities based on offers of Council of Ministers of the Republic of Karakalpakstan are distributed by Government commission (Zh. Hodzhayev);

d) to provide to coordinators of the Development program of family entrepreneurship (M. Ubaydullayev, A. Kamalov, D. Sultanov) until the end of 2022 allocation in addition of 200 billion sum of the credits at the expense of the resources allocated on the program for financing of projects within development programs of family entrepreneurship in the Republic of Karakalpakstan.

Determine that if the legislation provides tax benefits over established by this Item, optimum tax benefits are applied to subjects of entrepreneurship.

Take into consideration availability in the legislation of the expanded list of tax benefits for subjects of entrepreneurship of Muynaksky district.

3. Approve the offer of the Ministry of investments and foreign trade on allocation of credit line to commercial banks for development of business activity in the Republic of Karakalpakstan and the organization of works on financing within the project "Creation of small reservoirs in the delta of Amu Darya. Phase II" by fund of reconstruction and development (further - Fund) in equivalent of 100 million US dollars on the following conditions and the directions:

a) the credit line in the amount of 95 million US dollars is allocated to commercial banks for a period of 7 years, including three-year grace period on annual rate of 10 percent in national currency. At the same time:

the credits are allocated by commercial banks for projects implementation in the field of production and rendering services (except for projects in the field of housing construction, trade, the intermediary sphere, and also producers of excise goods, the state companies and legal entities with the state share in authorized fund (authorized capital) and replenishment of current assets) at the rate to 10 billion sum at the rate of 14 annual interest rates for up to 7 years, including grace period up to 2 years;

the list of the projects financed by the allocated this credit line is created by Government commission (Hodzhayev Zh.) based on the recommendation of Council of Ministers of the Republic of Karakalpakstan;

b) within the project "Creation of small reservoirs in the delta of Amu Darya. Phase II" for the organization of works on financing funds of credit line in equivalent of 5 million US dollars are allocated.

At the same time to Fund to allocate to the Ministry of water economy short-term loan in the amount of 5 million US dollars with annual interest rate at the main rate of the Central bank for a period of up to December 31, 2023 and later to translate this credit to the project orderer - the Nukus branch of executive committee of the International fund of rescuing of the Aral Sea.


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