Uzbekistan: government provides incentives for tourist industry

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TASHKENT (TCA) — The Fund for Reconstruction and Development of Uzbekistan will allocate loans to business entities of the tourist industry for co-financing investment projects for the construction of hotels, adjacent roads, and engineering and communication infrastructures. This follows from the Decree of President Shavkat Mirziyoyev signed on February 3, 2018 “On additional measures to create favorable conditions for development of the tourism potential of the Republic of Uzbekistan,” the Jahon information agency reported.

For legal entities engaged in the organization of theme park services, the Decree provides exemption from the corporate income tax, land tax, and property tax.

Until January 1, 2022, theme parks, hotels and other accommodation facilities are exempted from customs payments for imported equipment, machinery, raw materials, components and spare parts, construction and other materials not produced in Uzbekistan, for the construction, reconstruction and equipping of theme parks, hotels and other accommodation facilities.

In addition, until January 1, 2022, privileges were also granted to business entities in the sphere of tourism in the form of exemption from customs payments for imported motor vehicles of the tourist class, as well as for equipment, mechanisms and spare parts for the construction of roads, ski lifts, funiculars and other similar facilities and structures, as well as balloons, aerostats, ATVs and motor boats.

The Decree also provides tax incentives aimed at encouraging the introduction of E-services, including the provision of services for the sale of tourist products and/or online booking of travel services, as well as specialized Internet sites and portals offering modern types of tourist services.

Sergey Kwan

TCA