#Legal_news A special procedure is established for issuing th | Legal Info

#Legal_news

A special procedure is established for issuing the rights to use a subsoil plot for competitive bidding.

The Presidential Decree (6319 dated 06.10.2021) "On measures to further stimulate geological exploration and improve the procedure for taxation of subsoil users" was adopted.

From January 1, 2022, a special procedure will be established for issuing the rights to use a subsoil plot for competitive bidding. Wherein:

the amount of the sale is considered as the amount of the premium for the right to use the subsoil and is transferred to the republican budget minus the costs of the organizers of the competitive bidding;

The organizer of competitive bidding or participants in competitive bidding have the right to offer increased tax rates for certain types of taxes in the extraction (mining) of minerals.

From January 1, 2022, the following will be canceled:

commercial bonus for the extraction of minerals, levied for the right to extract minerals;
a signature bonus charged for the right to carry out activities for the identification and exploration of minerals.

From January 1, 2022:

land plots allocated for geological prospecting and (or) survey work are not subject to taxation by land tax levied on legal entities;

An annual license fee is introduced for the use of subsoil for geological exploration.

Reimbursement of the amount of VAT to legal entities carrying out geological exploration is made no later than 30 days from the date of application.


From October 1, 2021:

● the excise tax rate for the sale of natural gas for export is set at 0 percent;

● Legal entities are exempt from paying customs duties when importing natural gas into the territory of Uzbekistan.

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