Uzbekistan will introduce incentives for finished-goods exporters, according to a decree issued recently by President Shavkat Mirziyoyev. The decree will stimulate production and help develop the textile and leather-footwear industries, which will receive a range of tax benefits, including property and land taxes for three years, the justice ministry said. Exporters of semi-finished leather products will pay a 10 per cent duty, while yarn exporters will not not have to pay any duty, a news agency reported citing the decree. Foreign consultants working in the Uzbek textile industry and leather industry associations will pay only 50 per cent income tax. Uzbekistan is planning to reprocess all produced cotton domestically and increase the exports of textile products to worth $7 billion annually by 2025.
