Uzbekistan announces income tax exemption for investors in special economic zones

TASHKENT, July 14 (Xinhua) -- Uzbekistan has decided to exempt investors in special economic zones from paying income tax for up to ten years, the Uzbek Justice Ministry said.

Under a presidential decree signed earlier this week, companies investing 15 million U.S. dollars or more will be exempted from paying income tax for 10 years, those with investments from 5 million to 15 million dollars will be exempted for five years, while those with investments from 3 million to 5 million dollars will be exempted for three years, said the ministry Wednesday in a press release.

As of July 1, the number of enterprises and organizations with foreign capital in Uzbekistan's special economic zones reached 14,353, with most of them from Russia, Turkey and China, according to the Uzbek State Statistic Committee.