New Tax Code – repeal of benefits, a new tax, and adjustments to the provisions taking into account the practice of application
On January 1, 2021, a new version of the Tax Code began to operate in Belarus. Its main changes are as follows.
The Decree of the President of the Republic of Uzbekistan “On further improvement of resource taxes and property tax”
The President of the Republic of Uzbekistan signed the Decree “On further improvement of resource taxes and property tax” No.UP-6121 dated 03.12.2020 (the “Decree No.UP-6121”) to improve the property and land taxation.
Amendments to the legislation of Uzbekistan
On December 2, 2020 the President of the Republic of Uzbekistan has approved the Law “On amendments to certain legislative acts of the Republic of Uzbekistan in connection with the adoption of measures to mitigate the negative impact on economic sectors of the coronavirus pandemic and global crisis phenomena”.
New incentives for value added tax (VAT) and customs duties in Uzbekistan
To support the import of new technological equipment that is not produced in Uzbekistan, Article 6 of Article 246 of the Tax Code of the Republic of Uzbekistan provided for the exemption of such equipment from VAT.
On the 4th of December 2020, Pravo.ru, a leading Russian legal publication, revealed its national legal rating Pravo300. GRATA International, with a joint effort from its offices in Moscow, St. Petersburg and Rostov-on-Don, was named among Russia’s leading law firms and took positions in the federal rankings
FAS proposes to reduce the value of banks' assets to control transactions
In case of exceeding the value of assets, it`s required to obtain the prior consent of the antimonopoly authority for transactions and other actions provided for in articles 27 and 29 of the Federal Law "On Protection of Competition".
On November 30, 2020, at a meeting of the Government of the Russian Federation, it was decided to extend the moratorium on scheduled inspections in relation to small businesses. The document was published on the website of the Government of the Russian Federation.
Measures to reduce the shadow economy will be taken in Uzbekistan
The Presidential Decree No.УП-6098 “On organizational measures to reduce the shadow economy and improve the efficiency of tax authorities” dated October 30, 2020 (the “Decree No.УП-6098”) provides for measures to reduce the share of the shadow economy in the country.
Starting from November 1, a number of tax benefits will be canceled in Uzbekistan
According to the Presidential Decree "On measures to further improve the efficiency of the use of land resources and state property objects" No.УП-6027 dated July 15, 2020, the benefits provided by the Tax Сode are canceled.
Changes in taxation for controlled foreign companies
On 21of October, the Draft Law “On Amendments to Parts One and Two of the Tax Code of Russian Federation”, was adopted in the second reading. second reading in the State Duma. Subsequently, it was adopted in the third reading and sent to the Federation Council Committee on Budget and Financial Markets and Policy.
In September 2020 GRATA International in Kazakhstan became the most read contributor among other authors.