OREANDA-NEWS. January 29, 2009. According to the Decree of the President of the Republic of Uzbekistan "On the establishment of Free Industrial-Economic Zone in Navoi province" dated on December 2, 2008, No. UP-4059 is established that:  

 - terms of operation of "Navoi" Free Industrial-Economic Zone is 30 years with the possibility of further extension for additional period;

- during operation period, within the territory of FIEZ special customs, monetary and fiscal, simplified procedure for entry, stay and departure, as well as obtaining permits to non-resident citizens of the Republic of Uzbekistan to carry out labor activity regimes are applied;

- effectiveness of special legal regime, including fiscal, monetary and customs, applies only to activities carried out by business entities registered by the Directorate of FIEZ exclusively on the territory of FIEZ;

- coordination and operational management of FIEZ is carried out respectively, by the Administrative Council, set up from Government representatives and Directorate of FIEZ. Personal composition of the Administrative Council approved by the Cabinet of Ministers.

Exemption business entities registered in "Navoi" FIEZ from paying of land, property, profit, social infrastructure development taxes, as well as unified tax payment (for small businesses), compulsory contributions to the Republican Road Fund and Republican School Fund depending on the volume of invested foreign direct investment:

- in the amount from 3 to 10 million Euros - for 7 years;

- from 10 to 30 million Euros - for 10 years. Over the next 5 years the rates of profit and unified taxes payment shall be fixed at 50 percent level below current rates;

- more than 30 million Euros - for 15 years. Over the next 10 years the rates of profit and unified taxes payment shall be fixed at 50 percent level below current rates.

Business entities registered in FIEZ are exempted from paying customs duties (excluding charges for customs clearance) for equipment, raw materials and components imported for the production of export oriented goods for the full existing term of FIEZ.

Raw materials and components, imported for manufacturing of goods to be sold in Uzbekistan market customs duties are levied at the rate of 50 percent of the existing rates (excluding charges for customs clearance) with prolonging their payment terms up to 180 days if more favorable treatment does not established by national law.

Business entities, registered within FIEZ are allowed:

- exercise payments in foreign currencies within FIEZ in accordance with the agreements and contracts concluded between them;

- pay in freely-convertible currency the supply of goods, works and services performed by the business entities - residents of the Republic of Uzbekistan;

- apply convenient terms and forms of payments for exported and imported goods.