Effıcıency of Free Economıc Zones in Uzbekıstan Through Taxes Ways of Supply

International Journal of Advanced Science and Technology Vol. 29, No. 7, (2020), pp. 7861-7873 Effıcıency Of Free Economıc Zones In Uzbekıstan Through Taxes Ways Of Supply

Kuzieva Nargiza Ramazanovna1, Кузиев Равшан Рамазанович2, Khalikulova Shirin Utkir qizi3 1Tashkent Financial Institute 2Tashkent State Economic University 3Tashkent Financial Institute

Abstract The article outlines current issues on active development of the production of competitive and export-oriented modern industrial products of the regions of the country, attraction of foreign and local investments to create modern production facilities to ensure the production of competitive products with high added value and in demand on foreign markets, taking into account the deep processing of mineral raw materials and agricultural resources . At the same time, the essence of the organization of free economic zones for creating favorable conditions for their functioning and an effective mechanism for applying tax and customs privileges in these regions are analyzed Keywords: export, free economic zone, local and foreign investments, taxes and customs payments, tax rates, tax incentives, customs regime, customs clearance.

1 Introduction:

In the context of modernization and diversification of the economy to create new high-tech production facilities in the country, to more actively involve the regions in the development of competitive and export-oriented modern industrial products, to ensure the rapid development of production, engineering communications, road transport, social infrastructure and logistics Consistent development of free economic zones is important in expanding the attraction of foreign direct investment im important.

In the third important direction of the Action Strategy on the five priority areas of development of the Republic of Uzbekistan for 2017-2021, special attention is paid to improving the efficiency of existing free economic zones, technoparks and small industrial zones, the creation of new ones. [1]

During the years of independence, Uzbekistan has created a favorable investment climate, established a system of extensive benefits, advantages and guarantees by law to protect the rights and interests of foreign investors. At present, more than 5,000 enterprises with the participation of foreign investors from more than 90 countries are successfully operating in our country.

One of the important requirements for modernization of production is to expand the range of innovative and investment activities, increase the role of direct government support in creating a favorable investment climate, solve the problem of independent and free determination of business entities on the basis of innovation. Taking into account these important aspects, it is necessary to create a favorable investment climate in the country's economy, diversify the activities of the real sector and business entities on the basis of innovations, modernize them on the basis of modern technical and technological equipment, improve their funding sources. requires

International Journal of Advanced Science and Technology Vol. 29, No. 7, (2020), pp. 7861-7873

Today we can see the stages of development of free economic zones in our country through the data of Figure 1:

Figure 1

Stages of development of free economic zones in Uzbekistan

The Decree of the President of the Republic of Uzbekistan No. PF-4853 of October 26, 2016 "On Additional Measures to Activate and Expand the Activities of Free Economic Zones" is particularly relevant. [2]

According to the Decree of the President of the Republic of Uzbekistan "On additional measures to accelerate and expand the activities of free economic zones" dated October 26, 2016 No PF-4853,

The main directions of further development of Navoi, Angren and Jizzakh free economic zones are as follows:

- establishment of a single legal regime for free economic zones, unification of tax and customs benefits, preferences in order to create more favorable conditions for foreign investors to invest in real sectors of the economy;

- Active attraction of direct investments, first of all, foreign investments, support for the specialization of free economic zones in certain areas for the establishment of modern high-tech and localized enterprises that deeply process local mineral resources and produce competitive products with high added value and the development of industrial cooperation in them;

- Gradual transition to the provision of all types of public services, including permitting procedures, on the basis of the "single window" principle in free economic zones;

International Journal of Advanced Science and Technology Vol. 29, No. 7, (2020), pp. 7861-7873

- Accelerated development of production, engineering and communications, road transport and social infrastructure, as well as the formation of modern infrastructure for the provision of quality logistics services;

- The organization of training of highly qualified specialists in higher, secondary special vocational education institutions, taking into account the current and future needs of free economic zones for personnel, their internship at enterprises located in free economic zones.

Today, many projects with foreign investment operating in the free economic zones of the country are being implemented. (Figure 2)

- Projects of enterprises with foreign investment operating in free economic zones are being implemented in 29 SEZs in Navoi, 19 in Jizzakh SEZ and 15 in Angren SEZ. [3]

- In order to unify the tax and customs regimes in force in the free economic zones, the participants of these zones:

- - land tax, profit tax, property tax for legal entities, tax on improvement and development of social infrastructure, single tax for micro and small enterprises and the Republican Road Fund under the Cabinet of Ministers of the Republic of Uzbekistan and extra-budgetary general education and medical institutions under the Ministry of Finance of the Republic of Uzbekistan mandatory payments to the material and technical base development fund;

Figure 2

Projects implemented in free economic zones and their amount (in US dollars)

- - customs duties for equipment, raw materials, supplies and components imported for own production needs;

- - Exemption from customs duties (except for customs clearance fees) for construction materials that are not produced in the country and imported under the list approved by the Cabinet of Ministers of the Republic of Uzbekistan in the framework of projects.

International Journal of Advanced Science and Technology Vol. 29, No. 7, (2020), pp. 7861-7873

- The benefits are provided for a period of 3 to 10 years, depending on the amount of investment, including the equivalent:

- - from 300 thousand US dollars to 3 million US dollars - for a period of 3 years;

- - when investing from 3 million US dollars to 5 million US dollars - for a period of 5 years;

- - from 5 million US dollars to 10 million US dollars - for a period of 7 years;

- - In case of investment of 10 million US dollars and more - for a period of 10 years, for the next 5 years the rates of income tax and single tax payment are applied at a rate 50% lower than the current rates.

Also, participants of the free economic zones "Angren" and "Jizzakh" are exempt from customs duties (except for customs clearance fees) for raw materials, supplies and components imported for the production of export-oriented products during the operation of free economic zones.

Settlement and payment in foreign currency in accordance with the agreements concluded between the participants within the free economic zones, as well as payment in foreign currency for goods, works (services) delivered by other business entities - residents of the Republic of Uzbekistan, as well as for export and import of goods. have the right to use the terms and forms of payment and settlement that are convenient.

Today we can see the status of enterprises operating in the Angren Free Economic Zone through the following information.

Table 1

Enterprises operating in the Angren Free Economic Zone,

(in thousands of soums)

STIR The amount Total gross № Project name Business year of the revenue at the end name privilege of 2016 Production of СП ООО 1. energy-saving "EGL-NUR" 3 year 20716542 99 560,60 3 358 553,60 LED lamps 17.07.2013. 5 Production of УП 2. copper pipes of "Ангренқуву 7 year 30266006 10 193 77 412 733 different sizes рзавод" 4 050,90 17.07.2013. СП ООО"Uz- 3. Technical silicon Shindong 7 year 20697482 500 785,70 13 035 600 production Silicon" 9 17.07.2013. ИП ООО 4. Briquette coal "Jun Long 5 year 20713819 33 705,10 332 174 production Industrial" 6 08.11.2013.

International Journal of Advanced Science and Technology Vol. 29, No. 7, (2020), pp. 7861-7873

Briquette coal ДП "Bricket 5. production Coal 3 year 20714907 68 553,10 4 695 152 Standart" 1 28.10.2013. СП ООО 6. Briquette coal "AngrenBriq production uette coal " 5 year 20714071 6 981,00 92 722 15.12.2014. 9 ООО 7. Ceramic tile "BRICKS 5 year 30281602 3 679,30 3 679 development Angren" 6 13.02.2014. СП ООО 8. Production of «National 7 year 30301135 0 The company is ceramic granite ceramics» 5 under construction 19.01.2015. ДП 9. Fittings «Kompazitna 3 year 30283662 0 - production yaarmatura» 7 08.01.2015 Acrylic ЧП «Hilton 10. production Trade» 5year 20695835 0 3 149 460 16.01.2015. 6 Manufacture of СП ООО linear-chain «Armaturno- 11. fittings and izolyatorniyza 5year 20720719 0 1 297 059 insulators vod» 7 30.01.2015 . Production of ООО СП 12. decorative «Great Wall ceramic tiles and Ceramik 5 year 20722927 0 62 049 sanitary tiles Industries» 2 28.08.2015. Manufacture of ООО «LONG 13. pens, markers SHENG» 3 year 30273971 22 792,00 434 313 and markers 08.09.2015. 5 Manufacture of ООО Construction works 14. ceramic granite «Lyuxgranit» 7 year 30336556 0 are underway at the and ceramic tile 20.07.2016. 4 enterprise Production of ООО «Sponge 15. foam and Business » 3 year 30376581 20 157,00 753 140 mattresses 03.08.2016 . 9

ЖАМИ 10 949 264,7 104 626 635,73

According to the analysis, there are 15 enterprises operating in the Angren Free Economic Zone, and at the end of 2016, the total revenue of these enterprises amounted to 104,626,635.73 soums, and the amount of benefits amounted to 10,949,264.7 soums.

International Journal of Advanced Science and Technology Vol. 29, No. 7, (2020), pp. 7861-7873

Citing information on the Navoi Free Economic Zone, President Mirziyoyev said: “Over the past eight years, only 24 projects have been implemented here, in which the share of foreign direct investment is very low and only 900 people are employed. Last year, production fell by 24 percent.

The Decree on the establishment of free economic zones "Urgut", "Gijduvon", "Kokand" and "Hazarasp" on a fundamentally new basis was adopted yesterday. It is impossible to repeat the mistakes of the past. " [4] - emphasizes.

In this regard, in order to comprehensively and effectively use the production and resource potential of Samarkand, Bukhara, Fergana and Khorezm regions of the country, on this basis to create new jobs and increase incomes, the President of the Republic of Uzbekistan "Urgut", "Gijduvon" Of particular importance is the Decree PF-4931 "On the establishment of free economic zones" Kokand "and" Hazarasp ". [5]

According to the decree, the term of operation of the free economic zones "Urgut", "Gijduvon", "Kokand" and "Hazarasp" is 30 years, with the possibility of further extension. During its operation, separate tax, customs and currency regimes will be in place in the Urgut, Gijduvan, Kokand and Hazarasp free economic zones.

Directorates of free economic zones "Urgut", "Gijduvon", "Kokand" and "Hazarasp" are exempted from paying taxes and mandatory contributions to state trust funds for the entire period of operation of free economic zones.

Creating favorable conditions for the active attraction of foreign and domestic investments in the development of the pharmaceutical industry of the Republic, filling the local market of medicines with high-quality drugs, taking into account the unique conditions of cultivation of medicinal plants, and the Republic of Karakalpakstan, Jizzakh, Namangan, Syrdarya , Create new jobs on the basis of complex and effective use of production and resource potential of Surkhandarya and Tashkent regions In order to increase the income of the population of the Republic of Uzbekistan, the President of the Republic of Uzbekistan signed a decree on May 3, 2017 "Nukus-farm", "Zaamin-far", "Kosonsoy-far", "Syrdarya- farm", "Boysun-farm", "Bostanliq-farm" and On the basis of the Decree No. PF-5032 "On the establishment of free economic zones" Parkent-farm "" Nukus-farm "," Zaamin-far "," Kosonsoy-far "," Syrdarya-farm "," Boysun-farm "," It is important to establish free economic zones "Bostanliq-farm" and "Parkent-farm". [6]

 The main tasks and activities of these free economic zones are as follows:

 • Ensuring comprehensive and effective use of production and resource potential of the Republic of Karakalpakstan, Jizzakh, Namangan, Syrdarya, Surkhandarya and Tashkent regions for the cultivation and further processing of raw materials of medicinal plants in natural conditions;

 • Attracting direct investment from foreign and domestic investors to organize the production of high value-added modern pharmaceutical products and medicines, primarily on the basis of medicinal substances (substances) grown on duly established plantations and raw materials of medicinal plants;

 • Establishment of new modern production facilities and capacities for processing of medicinal plant raw materials and production of medicines, medical devices, auxiliary and packaging materials;

 • Deepening the process of localization of pharmaceutical production on the basis of raw materials of local medicinal plants on the basis of establishing strong cooperative ties and the

International Journal of Advanced Science and Technology Vol. 29, No. 7, (2020), pp. 7861-7873

development of industrial cooperation between organizations of free economic zones and other enterprises of the republic;

 • Establishment of research centers with experimental laboratories to study the introduction and cultivation of raw materials for medicinal plants.

 The term of the established free economic zones is set at 30 years with the possibility of further extension, in these areas there are separate tax, customs and currency regimes.

 In particular, when the participants of free economic zones make appropriate investments, they are:

 - Land tax, income tax, property tax for legal entities, tax on landscaping and social infrastructure development, single tax for micro and small enterprises, as well as the Republican Road Fund and the Fund for Development of Material and Technical Base of Educational and Medical Institutions under the Ministry of Finance of the Republic of Uzbekistan deductions;

 - Import of technological equipment, raw materials and components not manufactured in the Republic of Uzbekistan, exempted from customs duties.

 Participants in free economic zones will also have the right to use the terms and forms of payment and settlement convenient for export and import of goods.

 These benefits and conveniences increase the interest of local and foreign investors in direct investment in the economy.

 PF-5412 of the President of the Republic of Uzbekistan dated April 12, 2018 "On measures to establish a free economic zone" Syrdarya "in order to ensure comprehensive and rational use of production and resource potential of Syrdarya region, thereby creating new jobs and increasing incomes of the local population Decree No. was adopted.

 According to him, the following are the main tasks and directions of the Syrdarya Free Economic Zone:

 • Deep processing of local mineral resources and expansion of production of competitive, import- substituting products with high added value, effectively using the production and resource potential of the Syrdarya region;

 • Modern in deep processing, storage and packaging of fruits and vegetables, agricultural products, textiles, footwear and leather haberdashery, environmentally friendly chemicals, pharmaceuticals, food, electrical industry, machinery and automotive, construction materials and other areas active attraction of direct private investment, as well as foreign investment for the organization of production;

 • Deepening the process of localization of production of high-tech products from local raw materials based on the establishment and development of strong cooperative relations between the enterprises of the free economic zone and other local enterprises;

International Journal of Advanced Science and Technology Vol. 29, No. 7, (2020), pp. 7861-7873

 • Accelerated development of production, engineering and communication, road transport and social infrastructure in the Syrdarya Free Economic Zone, as well as the formation of a modern infrastructure for the provision of quality logistics services in this area;

 • Participate in the organization of training of highly qualified specialists and their internships at enterprises located in the free economic zone, based on the current and future needs of the free economic zones in the industry.

The fishing industry is one of the strategic directions of food security. Due to recent measures, the share of fisheries in the structure of the country's economy is steadily increasing.

At the same time, there are still many shortcomings and problems in the fishing industry, the effective solution of which will increase business activity, attract investment, introduce advanced technologies for fish farming, increase export potential, create new jobs.

In order to create conditions for further development of the fishing industry, improve the system of training and retraining, improve the quality of scientific and innovative research and development, the widespread implementation of their results, the President of the Republic of Uzbekistan "On additional measures to accelerate the development of the fishing industry." Resolution No. 3657 was adopted.

According to him, the main tasks of the SEZ "Fish Producer" are:

 • creation of breeding fish fry through production, further development of artificial pond fishing and acclimatization of new and tested species of fish to provide fisheries;

 • organization of modern hatcheries for breeding fish larvae, increasing the production of fish fry, modernization and rehabilitation of existing fish ponds;

 • Strengthen the fodder base by creating modern facilities for the production of full-value and high-protein feed for their own needs and fisheries, to meet their needs for wheat and soybeans through the planting of grain and cereal crops;

 • Widespread introduction of innovative and modern intensive technologies, including fish farming in cage (sadok), indoor water circulation systems and increasing the volume of fishing through increasing the productivity of artificial reservoirs;

 • Establishment of modern complexes for processing fish and production of fish products (canned food, salmon, fish meal, etc.), first of all, to meet the needs of the population, as well as for further export to neighboring countries;

 • Laboratory analysis of the hydrochemical composition of water, protection of fish from diseases, as well as the detection of fish diseases, their treatment;

 • organization of research work on the introduction of innovative ideas, technologies and developments in the process of fish farming, hunting and processing, as well as internships in the fishing industry for students of educational institutions majoring in this field.

Creating favorable conditions for attracting foreign and domestic investment in the establishment of modern greenhouses that provide high-value, competitive products with high added value in foreign markets, as well as comprehensive and efficient use of production and resource potential of Bukhara region, creating new jobs and the Bukhara-Agro Free Economic Zone of the President of the Republic of

International Journal of Advanced Science and Technology Vol. 29, No. 7, (2020), pp. 7861-7873

Uzbekistan dated July 10, 2018 in order to increase the income of the population "On measures to eat, No. PP-3843. [7]

According to him, the following are the main tasks and activities of Bukhara-Agro Free Economic Zone:

• Attracting foreign and domestic direct investment for the organization of modern greenhouses, including hydroponics, on a cluster basis, as well as the organization of production of structures, equipment and other components for the construction of modern energy-saving greenhouses;

• Expanding the production of agricultural products, deepening processing and increasing their exports on the basis of efficient use of production and resource potential of the region;

• Encourage the organization of a complete process of agricultural production from seed to market delivery;

• Introduction of effective mechanisms for providing greenhouses with seeds and seedlings of high- yielding crops, which are in high demand, by creating conditions for the organization of nurseries, as well as primary seed production;

• formation of a modern infrastructure for the provision of logistics services, assistance to agricultural producers in organizing the export of their products;

• Widespread introduction of modern resource-saving technologies, the use of alternative thermal energy in the organization of greenhouses;

• Establishment of research and production centers in accordance with international standards for standardization, certification and marking of manufactured products and taking measures to ensure international recognition of their results;

• Participate in the training of highly qualified specialists in the field of greenhouses, including their internships at enterprises operating in the territory of the SEZ "Bukhara-agro".

Creating favorable conditions for the integrated development of production and resource potential of Namangan region, the attraction of direct investment in the organization of production of high-tech and export-oriented products for deep processing of mineral resources and agricultural resources. In order to increase the export potential of the Central Asian countries bordering on the regions, to create new jobs and increase the welfare of the population of the region, the Republic of Uzbekistan Presidential Decree No. PF-5517 of August 20, 2018 "On the establishment of the Namangan free economic zone" was adopted. [8]

 According to him, the following are the main tasks and activities of the Namangan Free Economic Zone:

 • Attracting foreign and domestic direct investment for the organization of modern production of high value-added products that are in demand in foreign markets and replace imports;

 • Ensuring comprehensive and efficient use of production and resource potential of Namangan region;

International Journal of Advanced Science and Technology Vol. 29, No. 7, (2020), pp. 7861-7873

 • establishment of new productions in the field of deep processing, storage and packaging of fruits and vegetables and agricultural products, textiles, footwear and leather goods, food, electrical industry, machinery and automotive, construction materials;

 • deepening the process of localization of production of high-tech products on the basis of establishing strong cooperative ties based on local raw materials and the development of industrial cooperation between enterprises of free economic zones and the country as a whole;

 • Accelerated development of production, engineering and communication, road transport and social infrastructure in the territory of FEZ "Namangan", as well as the formation of modern infrastructure for the provision of quality logistics services in this area;

 • Organization of training of highly qualified specialists based on the current and future needs of the Namangan Free Economic Zone in the field, including participation in their internships at enterprises located in the Namangan Free Economic Zone.

 In addition, the following Decrees and Resolutions were adopted on free economic zones and small industrial zones:

 • Resolution of the President of the Republic of Uzbekistan No. PP-3175 of August 7, 2017 "On measures to strengthen the coordination and accountability of ministries, departments and local authorities for the effective functioning of free economic zones."

 • Resolution of the President of the Republic of Uzbekistan dated May 18, 2017 No PP-2973 "On the establishment of small industrial zones in Tashkent."

 • Resolution of the President of the Republic of Uzbekistan dated August 10, 2017 No PP-3194 "On the establishment of small industrial zones in Tashkent region."

 • Resolution of the President of the Republic of Uzbekistan dated March 30, 2017 No PP-2860 "On the establishment of a small industrial zone in the city of Yangier, Syrdarya region."

 • Decree of the President of the Republic of Uzbekistan dated June 6, 2017 No PF-5068 "On the establishment of an innovation technology park in Yashnabad district of Tashkent."

 • Resolution of the President of the Republic of Uzbekistan dated March 29, 2018 No PP-3635 "On measures to establish small industrial zones in Kashkadarya region."

Table 2 Small industrial zones established in Kashkadarya region

T / Name of the The name of the object r established KSZ 1. Karshi district KSZ Buildings and structures of "Agroservis MTP" LLC of Karshi district (former repair shop)* 2. Karshi city KSZ Buildings and structures "Trade base" on the balance of Karshi city improvement department 3. Kamashi district KSZ The building of the unfinished spinning mill of JSC "Kamashi Pakhta Tozalash" * 4. Book district KSZ Part of the building and facilities belonging to

International Journal of Advanced Science and Technology Vol. 29, No. 7, (2020), pp. 7861-7873

"AgroservisMTP" LLC of Kitab district * 5. Mubarek district KSZ Warehouse buildings and structures of “Muborak district trade” LLC Administrative and warehouse buildings of “Muborak Ishchi Tamamat” LLC * 6. Chirakchi district Buildings and structures of JSC KSZ "Kashkadaryodonmahsulotlari" "Ayritom grain reception" * Part of the territory of JSC "Chirakchi Pakhta Tozalash" * Production area under the administration of Chirakchi district (former territory of "Chirakchi canning" LLC) 7. Shahrisabz city KSZ Buildings and structures of "Guliston" MMTP on the balance of Shahrisabz city administration Resolution of the President of the Republic of Uzbekistan dated March 29, 2018 No PP-3636 "On measures to establish small industrial zones in Surkhandarya region."

Resolution of the President of the Republic of Uzbekistan dated June 5, 2018 No PP-3774 "On measures to expand the activities of the Navoi free economic zone and the establishment of small industrial zones in Navoi region."

The following small industrial zones have been established in Surkhandarya on the basis of the Resolution of the President of the Republic of Uzbekistan dated March 29, 2018 No PP-3636 "On measures to establish small industrial zones in Surkhandarya region":

Table 3 Small industrial zones to be established in Surkhandarya region

T / Name of the The name of the object r established KSZ

Oltinsoy district 1. Buildings and structures of "Shurchi pakhta tozalash" JSC * KSZ

2. Angor district KSZ Buildings and structures of JSC "Angor Pakhta Tozalash" *

Muzrabat district Muzrabot district road maintenance enterprise is a part of 3. KSZ buildings and structures belonging to UK

Buildings of treatment plant of JSC "Surkhanozikovqatsanoati" on 4. the balance of Denau district khokimiyat

Denov district KSZ Academician M. Mirzaev Research Institute of Horticulture, 5. Viticulture and Enology Part of the building and facilities of Surkhandarya Scientific Experimental Station

Jarqurghon district Part of the territory of Jarkurgan branch of Termez Oil Base LLC 6. KSZ *

Sariosiyo district Part of the buildings and structures of the Denau branch of Termez 7. KSZ Oil Base LLC *

International Journal of Advanced Science and Technology Vol. 29, No. 7, (2020), pp. 7861-7873

Economic and industrial buildings and structures on the balance of Termez district 8. Termez district khokimiyat (former “Uchqizil logistics base” KSZ LLC) Buildings and structures on the balance of Termez city 9. Termez city KSZ administration (former State Unitary Enterprise "Uzmahsustrans") 10. Uzun district KSZ Buildings and structures of JSC "Uzun Pakhta Tozalash" *  The state-owned real estate created in Kashkadarya and Surkhandarya will be leased to businesses for a long period of 10 years, subject to the implementation of business plans, creation and maintenance of jobs, timely payment of all taxes and other mandatory payments.

 For the use of state-owned real estate in the territory of KSZ during the lease period, the minimum rate of rent payment is set without applying an increasing coefficient, depending on the type of activity carried out in the leased area.

 In order to further improve the activities of free economic zones operating in our country and encourage them to attract foreign investment, the following proposals can be made:

 1. It is necessary to further improve the legal, socio-economic and other conditions for attracting foreign investment, in particular, direct investment in the form of capital investments in the economy of our country.

 2. Further accelerate the implementation of an open door policy for foreign investors, bringing to Uzbekistan technologies that meet world standards and are involved in the production of competitive products.

 3. In order to increase the incentive effect of incentives for enterprises with foreign investment in free economic zones, first of all, it should be aimed at accelerating scientific and technological development in the country and its introduction into production, development of competitive and consumer goods in the world market.

 4. Based on the experience of the Russian Federation, it is expedient to encourage the establishment of scientific technology parks in the following areas:

 • Development of information systems for specific consumers, their implementation and training to work with the system, to improve their skills in this area;

 • Conducting research in natural, exact, technical sciences and applying the results in practice;

 • Biotechnology, aimed at the development of electronics;

 • Waste recycling, etc.

 5. Privileges provided in free economic zones are granted depending on the volume of investment, including the equivalent:

 • from 300 thousand US dollars to 5 million US dollars - for a period of 7 years;

• When investing $ 5 million or more - for a period of 10 years, it is advisable to pay income tax and single tax rates for the next 5 years at a rate 50% lower than the current rates.

International Journal of Advanced Science and Technology Vol. 29, No. 7, (2020), pp. 7861-7873

References

1. Decree of the President of the Republic of Uzbekistan dated February 7, 2017 No. PF-4947 "Strategy of actions on five priority areas of development of the Republic of Uzbekistan for 2017- 2021". 2. Decree of the President of the Republic of Uzbekistan No. PF-4853 of October 26, 2016 "On additional measures to accelerate and expand the activities of free economic zones." 3. Data of the State Statistics Committee of the Republic of Uzbekistan www.stat.uz. 4. Mirziyoev Sh.M. "Critical analysis, strict discipline and personal responsibility should be the daily rule of every leader." - Tashkent .: Xalq so'zi newspaper, January 15, 2017. 5. Decree of the President of the Republic of Uzbekistan dated January 12, 2017 No PF-4931 "On the establishment of free economic zones" Urgut "," Gijduvon "," Kokand "and" Hazarasp ". 6. “Nukus-farm”, “Zomin-farm”, “Kosonsoy-farm”, “Syrdarya-farm”, “Boysun-farm”, “Bostanliq- farm” and “Parkent-farm” of the President of the Republic of Uzbekistan dated May 3, 2017 Decree No. PF-5032 "On the establishment of free economic zones". 7. Resolution of the President of the Republic of Uzbekistan dated July 10, 2018 No PP-3843 "On measures to establish a free economic zone" Bukhara-agro ". 8. Decree of the President of the Republic of Uzbekistan dated August 20, 2018 No PF-5517 "On the establishment of the free economic zone" Namangan ".