PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of November 23, 2021 No. UP-25

About additional measures for the accelerated development of entrepreneurship in the region Priaralya

For the purpose of creating favorable conditions for investment attraction to the Republic of Karakalpakstan and the Khorezm region (further - the region Priaralya) by stimulation of the organization of business activity and production of competitive products with high value added in the region, and also ensuring execution of the tasks determined within open dialogue of the President of the Republic of Uzbekistan with entrepreneurs who is carried out on August 20, 2021 on direct studying of problems and proposals of entrepreneurs and determination of the main directions of the subsequent development of entrepreneurship:

1. Approve the offers of the Ministry of investments and foreign trade, the Ministry of Economic Development and reducing poverty, the Ministry of Finance, Chamber of Commerce and Industry, Council of Ministers of the Republic of Karakalpakstan and khokimiyat of the Khorezm region providing since January 1, 2022:

a) till January 1, 2031 establishment for subjects of entrepreneurship in spheres of the local industry, agricultural industry and services in Muynaksky district of the Republic of Karakalpakstan:

the rates of tax established on the income tax, the receipts tax, the social tax, income tax in the amount of 1 percent;

rates of the property tax, the land tax and tax for use of water resources in the amount of 1 percent from the amount added to the given taxes;

b) till January 1, 2025 on newly created subjects of entrepreneurship (except for clusters) in Tuprokkalinsky, Yangiaryksky, Yangibazarsky districts of the Khorezm region and performing activities with passing of registration in these areas:

decrease in rates of the income tax, land tax from legal entities, the property tax of legal entities for 50 percent;

release from customs duty of the raw materials which are not made in the Republic of Uzbekistan, materials imported by them for needs of own production (rendering services) in the list created in accordance with the established procedure;

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