Tax incentives can be provided only for the certain period. Whenever a foreign investor seeks for tax incentives, much will depend on economic feasibility study. In other words, it is crucial that foreign investors actually prove to the government that the requested incentives and their duration are crucial for the feasibility of the project.
Although investment agreement in a sense ensures individual legal regime for the investor, it does not mean that it is absolutely not exposed to laws beyond the investment agreement. In this sense, the investment agreement should be considered as the supplement to the existing system. In case of any discrepancies between secondary legislation and investment agreement, the latter shall prevail, the investment agreement cannot, however, change the statutory provisions – in order to do so, the investment agreement must be signed by the parliament of Uzbekistan, which is not prohi...