PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of June 20, 2003 No. UP-3267

About additional measures for stimulation of increase in production of final consumer goods by the companies with foreign investments

For the purpose of stimulation of increase in production and expansion of the range of high-quality competitive final consumer goods, the most complete saturation of the domestic consumer market by them, forming of favorable conditions for broad attraction of foreign investments in creation of joint businesses:

1. Determine that from July 1, 2003 to January 1, 2005 the production enterprises with foreign investments specializing in production of ready-to-wear clothes (sewing, knitted and leather products), hosiery and footwear are exempted from payment in the budget of all types of tax and charges, except the value added tax.

To the Ministry of Finance, the Ministry of Economics, the State Tax Committee of the Republic of Uzbekistan together with the Complex of production of consumer goods and trade of the Cabinet of Ministers, "economic structures in ten-day time to specify the list of specific subjects to which the above-stated tax benefits extend and to approve in accordance with the established procedure Regulations on procedure for their application and target use of the released means.

2. Determine that the funds released according to Item 1 of this Decree are allocated for modernization and upgrade of production, development of new types of finished goods, replenishment of own current assets, work incentives of workers.

To the Ministry of Finance, the State Tax Committee of the Republic of Uzbekistan to establish strict control of target and effective use of the released means.

In cases of inappropriate use of the means released from the taxation, these means in full are collected in the government budget using the penalties provided by the current legislation.

3. To the Ministry of Justice of the Republic of Uzbekistan together with the Ministry of Finance, the State Tax Committee of the Republic of Uzbekistan, other interested departments in two weeks:

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