of August 15, 2007 No. 174
About approval of the Regulations on procedure for application of privilege on the income tax the commercial banks granting the loans for implementation of investment projects
In pursuance of the Resolution of the President of the Republic of Uzbekistan of July 12, 2007 the Cabinet of Ministers decides NPP-670 "About Measures for Further Increase in Capitalization of Banks and Activation of Their Participation in Investment Processes on Upgrade of Economy":
1. Approve Regulations on procedure for application of privilege on the income tax by the commercial banks granting the loans for implementation of investment projects according to appendix.
2. To impose control over the implementation of this resolution on the Deputy prime minister of the Republic of Uzbekistan Azimov R. S. and the Chairman of the Central bank of the Republic of Uzbekistan Mullazhanov F. M.
Prime Minister
Republic of Uzbekistan Sh. Mirziyoyev
Appendix
to the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of August 15, 2007 No. 174
1. This Provision determines procedure for application of tax benefit, stipulated in Item 3 Resolutions of the President of the Republic of Uzbekistan of July 12, 2007 for NPP-670 "About Measures for Further Increase in Capitalization of Banks and Activation of Their Participation in Investment Processes on Upgrade of Economy" and providing the right of commercial banks to the period till January 1, 2012 to reduce taxable basis on the income tax by the amount of the income obtained from provision by them of the credits over three years for implementation of investment projects on upgrade, technical and technological rearmament and updating of production in priority industries of economy according to the approved target programs.
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