On July 12, the President of Uzbekistan signed a Law on Amendments to the Tax Code of the Republic of Uzbekistan.

Thus, Article 473 of the Tax Code (Taxation conditions of special economic zone participants) is supplemented with Part two of the following content:

"Special economic zone participants are exempt for a certain period from paying income tax depending on the investment amount they have made:

• 3 to 5 million US dollars – for 3 years,
• 5 to 15 million US dollars – for 5 years,
• 15 million US dollars and above – for 10 years."

Article 483 of the Tax Code ("Temporary tax benefits") was supplemented with Part nineteen of the following content:

"Unused part of the income tax benefits after January 1, 2020, by participants of special economic zones is fully applied to participants included on the register of participants of special economic zones before October 1, 2020, for a period of 3 to 10 years from the date of their inclusion on the register, depending on the amount of investments they made, provided for by the acts of legislation in force before January 1, 2020. The provisions of this part do not apply to the duration of the income tax benefits provided for in part two of Article 473 of this Code."