of March 14, 2007 No. UP-3860
About additional measures for stimulation of upgrade, technical and technological rearmament of production
For the purpose of creation of effective system of incentives for implementation by business entities of permanent upgrade, technical and technological rearmament of own production, equipment by its modern high-productive equipment providing increase in release of high-quality, competitive, export-oriented products:
1. Grant to business entities the right to reduce within five years taxable profit on the income tax by the amount of the funds allocated for 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 and also for repayment of the credits issued on the specified purposes, and cost recovery of object of leasing less the depreciation added in the corresponding tax period, but no more than 30 percent of taxable profit.
3. Enter tax benefits for the legal entities applying the simplified procedure for the taxation in the form of reduction, within five years, taxable basis on single tax payment on the cost of the acquired new processing equipment, but no more than 25 percent from taxable basis.
4. Determine that:
the tax benefits provided by this Decree are applied, since tax period in which the specified expenses are performed, and on processing equipment - from the moment of input of the equipment in operation for the next accounting tax period;
in case of realization or voluntary conveyance of processing equipment within three years from the moment of its acquisition (import) action of the specified tax benefits is cancelled with recovery of obligations on payment in the budget of the corresponding taxes. On customs payments of privilege are cancelled with recovery of obligations on their payment in the budget in case of realization or voluntary conveyance for export of processing equipment within three years from the moment of its acquisition (import).
5. Determine that since April 1, 2007 privileges on customs payments, stipulated by the legislation on the imported processing equipment, are provided according to the list of processing equipment approved by the Ministry of Economics, the Ministry of Finance, the Ministry of Foreign Economic Relations, Investments and Trades and the State Customs Committee of the Republic of Uzbekistan.
Extend the privileges on customs payments provided when importing processing equipment for components and spare parts, under condition if their delivery is provided by terms of the contract on delivery of processing equipment.
To the Ministry of Economics of the Republic of Uzbekistan together with the Ministry of Finance, the Ministry of Foreign Economic Relations, Investments and Trades, the State Customs Committee till April 1, 2007 to approve the list of the processing equipment exempted when importing to the territory of the Republic of Uzbekistan from customs payment.
6. To the Ministry of Finance of the Republic of Uzbekistan in a month together with the Ministry of Economics, the State Tax Committee, the State Customs Committee, the Ministry of Justice of the Republic of Uzbekistan to develop and approve in accordance with the established procedure Regulations on procedure for application of the tax benefits provided by this Decree.
7. To the Ministry of Justice of the Republic of Uzbekistan together with the Ministry of Finance and other interested ministries and departments to make in the Cabinet of Ministers offers on the changes and amendments in the legislation following from this Decree in a month.
8. To impose control of execution of this Decree on the Prime Minister of the Republic of Uzbekistan Mirziyoyev Sh. M.
President of the Republic of Uzbekistan
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