Tuesday, 18, December, 2018

President Shavkat Mirziyoyev signed a decree Thursday stimulating the export potential of domestic manufacturers. According to the document, as of January 1, legal entities who export over 15% of the total revenue from the sale of goods (works, services), including via an agent (confidant), shall see their taxable base for corporate income tax reduced by the amount of revenue made from exports of goods (works, services), as well as the single tax payment by the amount of export of goods (works, services).

These waiver shall not apply to the export of commodities (according to the list, which has not yet been published), as well as international transportation services (except for motor transport) and transportation via oil and gas pipelines.

The waivers will be contained in the new edition of the Tax Code.

In cases of lack of documentary evidence of the export of goods (works, services) and failure to receive foreign currency earnings within 180 days from the date of release of goods into the export regime the sums not paid through these waivers are subject to recovery to the state budget using penalty.

 

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