In Uzbekistan, entrepreneurs facing challenges in maintaining their businesses will receive additional support of government

President of Uzbekistan Shavkat Mirziyoyev held a meeting where he put forward the next steps of quarantine removal aimed at steady revival of country’s economy. Actions should be implemented with strict adherence to sanitary rules.

During the event, Uzbek President suggested several proposals.

Particularly, social tax rate for small businesses and farms will be reduced from 12 percent to 1 percent in May-July. Next, small businesses and individual entrepreneurs will be freed from paying land and property tax for the next three months.

Besides, in April-May, more than 1000 entrepreneurs will be dismissed 80 billion soums fine for late payments of land and property taxes.

Shavkat Mirziyoyev noted that entrepreneurs will be permitted to pay customs duties with up to 120 days delay.

In addition, the compensation sum for loans amounting up to 500 billion soums (previously up to 10 billion soums) issued to entrepreneurs for working capital replenishment will be increased from 5 to 10 percent.

In general, additional 2 trillion soums will be allocated from budget to support the economy and citizens.