Legal Info

2021-11-05 16:18:27 #Do_you_know

According to the legislation, until January 1, 2022, the following are exempt from customs duties (except for value added tax and customs clearance fees):

● locomotives, railway wagons and components - HS code 8601-8607;
● Cargo containers of all types-HS code 8609;
● Aircraft-HS Code 8802 customs duties (excluding customs clearance fees);
● vehicles intended for the carriage of goods, service life of which does not exceed 4 years - HS code 8704 21 (refrigerators), 8704 23 (except dump trucks);
● aviation fuel.

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2021-11-04 12:11:59 #Legal_news

The President's Resolution "On the approval of an international treaty" was adopted.

The resolution approved the Agreement between the Government of the Republic of Uzbekistan and the Government of the Republic of Kyrgyzstan on the establishment of the Uzbek-Kyrgyz Development Fund, signed on March 11, 2021 in the city of Tashkent.

The Ministry of Investment and Foreign Trade is responsible for the implementation of this Agreement.

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2021-11-03 15:30:17 #Legal_news

Tax deferral mechanisms will be improved

The Resolution of the President "On improving the mechanisms for deferring the payment of taxes by domestic and foreign investors" was adopted.

According to the resolution, from January 1, 2022, business entities are granted (with the exception of enterprises with a state share of more than 50 percent, subsoil users and manufacturers of excisable products) the right to defer payment of taxes accrued on property tax and land tax when acquiring property rights to land plots and (or) buildings and structures with a total area of more than 1,000 square meters, for a period of six months.

Wherein:

the right to defer the payment of taxes is valid for three months from the date of state registration of the property right to land plots, buildings and structures, with notification of the state tax authorities and without requesting security for its payment (pledge);

the validity period of the tax deferral is the date of sending the notification in accordance with the established procedure to the state tax authority, and the deferred tax amount is paid during the year in equal shares together with accrued interest from the date of expiration of this notification. Meanwhile, interest for using the possibility of changing the terms of payment of taxes is accrued in the amount of 50 percent of the main rate of the Central Bank from the date of tax deferral;

when selling or leasing a land plot and (or) buildings and structures during the period of deferral of tax payments, the amount of taxes calculated during the period of deferral of property tax and land tax is charged in full;

business entities included in the group of taxpayers with an increased risk of violating tax legislation are not provided with a tax deferral.

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2021-11-02 09:51:51 #Legal_news

The responsibility for violation of the requirements for the protection of personal data has been strengthened

The law "On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan" was signed by the President.

The law, inter alia, amended the Code of Administrative Responsibility.

When processing personal data of citizens using information technologies, including on the Internet, non-compliance with the requirements for the collection, systematization and storage of personal data in technical means and databases located in Uzbekistan, entails the imposition of a fine on citizens - in the amount of 7 times of BCA (Base Calculation Amount - 1 million 890 thousand soums), on officials - in the amount of 50 times of BCA (13 million 500 thousand soums).

The Law also provides that, in accordance with the amendment to the Criminal Code, in case of repeated commission of this act within one year after the application of administrative punishment, one of the following punishments is applied:

a fine of up to 150 times the size of the BCA (up to 40 million 500 thousand soums);
deprivation of a certain right for up to 3 years;

Community service for up to 2 years.

These amendments come into force 3 months after the date of entry into force of the law.

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2021-10-31 08:18:55 Important legislative acts adopted from october 23 to october 29, 2021





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2021-10-29 16:16:09 #Do_you_know

Labor migrants can make payments on loans received in Uzbekistan through electronic payment systems

Labor migrants can make payments on a loan received in Uzbekistan through Asia Invest Bank and other partner banks in Russia in Russian rubles, including through electronic payment systems.

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2021-10-29 07:55:50 #Legal_news

Loans received in foreign currency are compensated when transferred to the national currency

The President's Resolution "On additional measures to reduce the burden on business entities associated with the fulfillment of their credit obligations in foreign currency" was adopted.

According to the Resolution, when transferring loans received from commercial banks in foreign currency into the national currency, the State Fund for Business Support provides compensation to cover interest expenses in excess of the Central Bank's basic rate, but not more than 5 percentage points, loans to business entities with valid compensation agreements not exceeding the equivalent of 1 million US dollars, and an interest rate not exceeding 1.75 times the size of the Central Bank's basic rate.

From November 1, 2021, loans (credits) raised from the funds of international financial institutions and foreign government financial organizations on behalf of the Republic of Uzbekistan in foreign currency for the purpose of financing entrepreneurial projects will be re-credited to financial organizations participating in projects for a period of at least 10 years or for the period of their attraction.

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2021-10-22 07:02:00 #Legal_news

Some goods will be exempted from customs duty

The Government adopted a Resolution «On additional measures to guarantee the provision of the population with basic types of food and to maintain price stability in the domestic market».

According to the Resolution, the following goods are exempted from customs duties by May 1, 2022:

● bananas, plantains (fresh or dried) - HS code 0803;
● fresh or dried dates, figs, pineapples, avocados, guava, mango and mangosteen or garcinia - HS code 0804;
● fresh or dried citrus fruits - HS code 0805;
● fresh papaya - HS code 0807 20 000 0;
● fresh apples, pears and quince - HS code 0808;
● kiwi - HS code 0810 50 000 0.

Moreover, a draft law will be developed by the Resolution, which envisages that the sale turnover and the importation of meat (beef, lamb, chicken), live animals (cattle and poultry) and their slaughter products, potatoes and frozen fish into Uzbekistan will be exempted from VAT.

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2021-10-21 09:22:18 #Minjust_report

Uzbekistan has risen by 14 positions in the rule of law index

In the 2021 rule of law ranking published by the World Justice Project on October 14, Uzbekistan has risen by 14 positions.

Uzbekistan’s overall score increased 4.1 percent in this year’s Index, and Uzbekistan has become one of the 3 countries that have demonstrated the best results in this direction.

The index survey was conducted among 138,000 households and more than 4,000 legal practitioners and experts, assessing the rule of law index in 139 countries (the number of countries increased by 11 compared to last year).

Accordingly, new States were added to this year's edition, such as the Republic of the Congo, Haiti, Ireland, Latvia, Lithuania, Luxembourg, Malta, Paraguay, the Republic of Slovakia and the Sudan.

Our country took the 85th place in the overall ranking.

For note: This Index is the only international rating specializing exclusively in assessing the rule of law index, and is one of the most important sources of information in the formation of the Worldwide Governance Indicators, the Transparency International’s Corruption Perception Index.

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2021-10-20 10:00:06 #Legal_news

The possibility of paying taxes in installments is provided.

The law (№ 722, 14.10.2021) "On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan" was signed by the President.

The law introduced a number of changes to the Tax Code.

In particular, in accordance with article 99 of the Code, it is established that the State Tax Committee has the right to provide the opportunity to pay taxes and turnover tax in installments in accordance with the established procedure without providing property as a pledge, without a guarantor or bank guarantee (except for income tax, social tax, income tax at the source of payment).

In addition, according to the addition to article 100, interested persons who have been operating for more than 3 years, who have paid taxes on time. However, whose financial situation does not allow them to pay off their tax debt on time, may be given the opportunity to pay taxes in installments.

According to the amendments made to Article 378 of the Code, the taxpayer's income directed to education in professional (vocational schools, colleges, technical schools) and higher educational organizations of the Republic of Uzbekistan (own, as well as the education of children or husband (wife) under the age of 26) is not subject to taxation (previously this benefit applied only to higher education).

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