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Uzbekistan Gazettes Decree Improving Taxation Procedure for Natural Resource Exploration

Oct. 13, 2021, 5:00 AM

The Uzbek Official Gazette Oct. 7 published Decree No. UP-6319, improving the taxation procedure for natural resource exploration and investments. The decree includes measures: 1) providing a land tax exemption for mineral extraction plots, applicable from Jan. 1, 2022; 2) providing for the payment of VAT refunds within 30 days of the submission of an application by companies performing geological exploration; 3) establishing a zero percent excise tax rate on exported natural gas, applicable Oct. 1; 4) reducing tax rates for specified natural resource exploration companies; 5) introducing a tax on the rental income of specific natural resource companies; 6) ...

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