BAKU, Azerbaijan, Oct. 9
By Klavdiya Romakayeva - Trend:
The Government of Uzbekistan will compensate tourism enterprises interest expenses on some loans, including those issued for the construction of hotels, Trend reports referring to Norma.uz legal and information portal.
In particular, the state will reimburse tourism enterprises for interest expenses on some loans, including those issued for the construction of hotels and hotels. In addition, the decree approved a provision on a temporary procedure for the provision of subsidies to cover part of the costs of tour operators, travel agents and accommodation facilities.
In accordance with the document, the tourism industry entities will be reimbursed for part of the interest expenses on loans exceeding the basic rate of the Central Bank, but not more than 10 percentage points:
for the period from June 1, 2020 to January 1, 2022 on previously issued loans for the construction of accommodation facilities;
on loans issued to bring them in line with new sanitary and hygienic standards;
for the period from June 1 to December 31, 2020 on loans issued to replenish working capital in the amount of up to 1 billion soums ($96,622).
In addition, interest expenses on previously issued loans for the construction of accommodation facilities for the period from March 1 to June 1, 2020, are fully reimbursed.
These subsidies are allocated regardless of the number and volume of loans from the tourism industry entities, as well as the number of compensations that were previously issued.
Since March 16, after the identification of patients with coronavirus, Uzbekistan was closed to foreign tourists, and domestic tourism was suspended.
As a result, more than 1,500 tour operators and 1,200 hotels have suspended their activities. To mitigate the effects of the pandemic, the tourism industry has been granted a number of preferences. In particular, 1,750 subjects were granted property tax benefits.
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