Support to tourism industry entities: benefits and preferences for tourism enterprises

According to the press service of the State Committee of the Republic of Uzbekistan for Tourism Development, in order to support individuals who lost their main sources of income during the coronavirus pandemic, socially vulnerable segments of the population and businesses, in accordance with Presidential Decrees of March 19, 2020 No. 5969 and of 3 April 2020, No. 5978, a number of benefits and preferences were granted.

In continuation of this practical work, the Decree of the President of Uzbekistan of the Republic of Uzbekistan dated April 27, 2020 No. 5986 “On additional measures to support the population and businesses during the coronavirus pandemic” was adopted. According to the document, a number of additional benefits were provided to business entities.

In particular, from April 1, 2020 to October 1, 2020, individuals are granted the right to an interest-free deferral of payment of tax on personal income received from renting premises to individuals and non-residential premises to business entities whose activities were suspended during the coronavirus pandemic. At the same time, the amount of the deferred on the payment of personal income tax is payable in equal installments by April 1, 2021.

At the same time, the Decree noted that the procedure for compensation by State Fund for Support of Business Development of interest costs on loans from commercial banks also applies to existing loan agreements of business entities.

In addition, the deadline for interest-free tax deferral in the simplified manner provided for in paragraph 6 of Presidential Decree of April 3, 2020 No. 5978 was extended until December 31, 2020.

Tourism entrepreneurs also have the right to enjoy the benefits and privileges established by Decree of the President of the Republic of Uzbekistan dated April 27, 2020 No. 5986.