Uzbekistan has adopted a number of measures aimed at the further development of the tourism industry and increasing its contribution to public income. These decisions were announced at a meeting between President Shavkat Mirziyoyev and entrepreneurs in the Khorezm region.
Within the framework of supporting the hotel business, 50 million US dollars will be allocated for the construction, reconstruction, and equipping of accommodation facilities. Entrepreneurs will be able to receive loans in national currency at an annual interest rate of 16% for a period of up to ten years.
One of the key decisions is the extension of the tax benefit for hotels, which allows for a tenfold reduction in land and property tax rates, and this period is extended until 2030.
Furthermore, the tax regime for the tourism business will change: services provided by tour operators to foreign tourists will be considered exports and exempted from value-added tax. The customs preferential regime for the import of tourist vehicles, electric vehicles, and minivans has also been extended for one year, and the fee for processing these vehicles will be abolished.
The deadline for providing subsidies for the construction of three-, four-, and five-star hotels has also been extended by another two years. For hotels wishing to receive a subsidy upon confirmation of their category, the requirement to obtain an assessment from a foreign company is being eliminated.
For hotels with more than 50 accommodation places, banks are obliged to independently install ATMs that accept cash in foreign currency.