Uzbekistan exempts individual entrepreneurs from paying some taxes; McKinsey and BCG will assist Uzbekistan in the development of the chemical and oil and gas industries; The US intends to investigate the import of uranium. One of the suppliers is Uzbekistan; Nearly 200 projects to be realized in Kattakurgan Uzbek region; Foreign investors to obtain residence permit when buying real estate in Uzbekistan.
Uzbekistan exempts individual entrepreneurs from paying some taxes
In Uzbekistan, by presidential decree, individual entrepreneurs will be granted a number of new benefits.
Individual entrepreneurs are exempt from paying a fixed tax payable for each employee hired.
Another positive point is that individual entrepreneurs who have received preferential microcredit for the first time are exempted from paying a fixed tax within 6 months from the date of receipt.
Also, individual entrepreneurs will now pay a monthly fixed tax on transportation of goods by road with a carrying capacity of more than 3 tons at a rate of 2 times the minimum wage.
It is reported that in order to ensure the qualitative development of the concept of long-term development and avoid unpromising projects, the State Committee for Investments involves leading international experts to promote and implement programs for reforming key sectors of the economy:
- Electric power and renewable energy sources: European Bank for Reconstruction and Development.
- Investments in the electricity sector: the World Bank and the Asian Development Bank
- Air transport and investments therein: World Bank
- Natural gas and investments therein: International Finance Corporation
- Chemical Industry and Investments: McKinsey & Company
- Oil and gas industry and investments in it: Boston Consulting Group
The US intends to investigate the import of uranium. One of the suppliers is Uzbekistan
The US authorities intend to conduct an investigation into the import of uranium, as a result of which it may be decided to impose the relevant duties, reports Bloomberg.
It is noted that the presidential administration intends to protect the economic interests of the country, and in particular – national producers, like Energy Fuels and Ur-Energy.
The main suppliers of imported uranium in the United States are Canada and Kazakhstan, each accounting for about a quarter of the total. They are followed by Australia, Russia and Uzbekistan, recalls the publication referring to the US Energy Information Administration.
Nearly 200 projects to be realized in Kattakurgan Uzbek region
Kattakurgan district administration (Uzbekistan) is planning to create 1,092 new jobs in the fields of industry, services and agriculture, the MP group of the Uzbek Liberal Democratic Party said during the regular meeting in Kattakurgan district assembly of people’s deputies.
41,2 billion soums will be allocated this year for the development of the spheres of industry, services and agriculture, according to the approved plan of implementation of the program of socio-economic development of the region in 2018.
Foreign investors to obtain residence permit when buying real estate in Uzbekistan
Foreign citizens and stateless persons who buy real estate in Uzbekistan for $200,000 or more will be able to obtain a residence permit in a simplified procedure.
In addition, investors who acquire stock and shares of economic companies, and also create a foreign enterprise with an investment of not less than $200,000, will be able to receive a multiple entry visa for up to three years with the possibility of an unlimited number of renewals, without the need to leave the territory of Uzbekistan.