From January 1, 2022, businesses will be able to defer the payment of property and land taxes if they purchase land plots and (or) buildings and structures with an area of more than 1000 sq. m. for a period of 6 months. This is stated in the presidential decree of November 2.
This practice does not apply to enterprises with a state share of more than 50%, subsoil users and manufacturers of excisable products. Businesses included in the group of taxpayers with an increased risk of violating tax laws will also not be able to receive a tax deferral.
The right for a deferral can be exercised within three months from the date of state registration of property rights to land plots, buildings and structures with the notification of the tax authorities and without demanding security for its payment (pledge). The deferred taxes amount shall be determined in the amount of taxes calculated based on the value of land plots, buildings and structures that have passed state registration.
The start date is the date the notification is sent to the state tax authorities. The deferred tax is payable throughout the year in equal installments, together with accrued interest, from the date the notice expires. Interest is charged at 50% of the basic rate of the Central Bank from the date of the tax deferral.
Earlier in summer, the president received more than 13.5 thousand letters from businesses ahead of the open dialogue. One of the most pressing issues was access to land and buildings, after which Shavkat Mirziyoyev instructed to send working groups to the provinces and form a list of land plots and buildings that will be put up for auction from September 1.
