The President of the Republic of Uzbekistan adopted a Resolution dated 16 September, 2019, No.PP-4453 “On measures for the further development of light industry and stimulation of finished goods production”.
In addition to the previously planned increase of excise duty for alcohol and tobacco products, in accordance with the Decree of the President of Uzbekistan dated 26 September, 2019 No.UP-5837 “On measures for further improvement of tax policy of the Republic of Uzbekistan” rates for oil products, gas, mobile communications and polyethylene granules will increase.
On the implementation of agreements on the financing of cross-border cooperation
It should be reminded that between Belarus and the European Commission a number of agreements have been concluded, including on financing cross-border cooperation (CBC), under which our country undertake to provide tax incentives and other preferences within CBC co-financing.
Additional taxes. In what cases to be afraid and how to count?
According to the Tax code of the Russian Federation, legal entities, as well as individual entrepreneurs starting their commercial activities, can choose a General or simplified tax system.
On August 1, 2019, the Cabinet of Ministers adopted Resolution No. 643 "On measures to support the development of entrepreneurship and the expansion of industrial production in the Jizzakh region."
New excise tax rates are established by the Decree of the President of the Republic of Uzbekistan dated July 24, 2019 No. UP – 5771 “On measures to further improve the regulation of production and realization of certain types of excisable goods”.
Regulatory developments in the legislation of the Republic of Uzbekistan
Since July 1, 2019, changes came into force that will affect customs regulation, licensing, public procurement, investor relations, corruption risk assessment and many different sectors.
The authorities of Uzbekistan decided to introduce a system of English law in the Navoi free economic zone
Presidential Decree № 4 dated July 16th 2019 “On the change of taxation”
President amended Regulation on High Tech Park (HTP), approved by the Decree of the President of Republic of Belarus № 12 dated 22.09.2005. Amendments came into force on July 19th 2019, however are applicable from January 1st 2019.
According to the decree, the territory of Navoi region is defined as a free economic zone for innovative, high-tech, export-oriented and import-substituting industries for the period up to 1 January 2030, with the possibility of further extension in due course.
On the bankruptcy. The tax authority now must estimate the economic feasibility of a bankruptcy procedure before appealing to a court.
The Constitutional Court of the Russian Federation has obliged a tax authority to check the relevancy of the claim to recognize a debtor as a bankrupt in terms of prospects and economic feasibility of initiating such dispute.
The President of Uzbekistan Shavkat Mirziyoyev signed the Law “On introducing changes and amendments to some legislative acts of the Republic of Uzbekistan in connection with the adoption of additional measures to improve the business climate in the country”.