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Representatives of tourism industry enjoy benefits, as new presidential decree gets approval

06.02.2018

A presidential decree approved additional organizational measures on creation of favourable conditions for the development of tourist potential of Uzbekistan.

Credit lines from the Fund for reconstruction and development of Uzbekistan are intended to support business activities in the tourism sphere. Entrepreneurs of the tourism industry can now receive favourable loans to finance investment projects on construction of hotels, engineering and communication infrastructures.

Those legal entities who intend to build theme parks are now provided benefits in the form of exemption from income tax of legal persons, land tax, property tax and single tax payment for a 3-year period from the date when the park enters into operation.

For a period by January 1, 2022, theme parks, hotels and other accommodation facilities are exempt from payment of customs duties for imported equipment, machinery, raw materials, components and spare parts, construction and other materials not produced in Uzbekistan, for construction, renovation and equipment of their facilities.

In addition, until January 1, 2022, exemptions are also granted to business entities in the tourism sector in the form of exemption from customs duties for tourist class vehicles, as well as machinery, mechanisms and spare parts for construction, renovation and equipment of cable lines, ski lifts, cable cars and similar facilities and structures, as well as balloons, air balloons, quad bikes and motor boats on the lists approved according to established procedure.