Uzbekistan plans to reduce the VAT rate from 2023
In the Х Congress of the Liberal Democratic Party, the President of Uzbekistan, in his election programme, stated that the VAT rate would be reduced from 15% to 12%.
Uzbekistan provides new preferential conditions for the participants of SEZ
According to the Resolutionof the President “On measures to further support the participants in special economic zones” No.ПП-5243 dated September 14, 2021, it was established that in connection with the cancellation of income tax benefits for participants in special economic zones (the “SEZ”) from January 1, 2020, the unused part of these tax benefits will be fully applied for participants in SEZ included in the register of participants in SEZ as of October 1, 2020, for a period of 3 to 10 years from the date of their inclusion in the register based on the volume of investments they made.
New measures to support participants of special economic zones are adopted in Uzbekistan
There was adopted the Resolution the President of the Republic of Uzbekistan “On measures to further support the participants of special economic zones” No.ПП-5243 (the “Resolution No.ПП-5243”) dated September 14, 2021.
On July 23, 2021 was adopted a Law of the Republic of Azerbaijan dated July 9, 2021 #360-VIQD On making Amendments to the Labor Code, Civil Procedural Code, Family Code, Civil Code, Tax Code, Criminal Procedural Code, Administrative Procedural Code and Code on Administrative Offences, Law “On Social Insurance”, Law “On Health Insurance”, Law “On State Duty”, Law “On Judicial-Legal Council” and the Law “On Administrative Proceedings”.
Change in taxation
When determining the tax base of income tax from individuals, income received in the form of insurance compensation and (or) insurance coverage in connection with the occurrence of insurance events under voluntary life insurance and voluntary insurance of additional pensions concluded before January 1, 2021, for less than 3 years.
On June 3, 2021, a webinar: "Doing Business in Uzbekistan" in cooperation with the European Business Association in Kazakhstan was held.
On May 27, 2021, leading experts from GRATA International held an online webinar on Doing Business in Mongolia.
Legal 500, one of the most reputable international directories, released its latest rankings of leading law firms and lawyers in Europe, Middle East and Africa.
One of Russia’s leading media outlets, Kommersant, has released its national rating of best legal practices. Russian offices of GRATA International have been featured in federal and regional tables of leading law firm across several practice areas.
Along with its rankings of law firms, the leading Russian rating directory Pravo.ru-300 has released a list of the best legal experts in 29 practice areas. This year over 900 top lawyers were included in the recommendations list. Among the country’s best lawyers are 6 members of GRATA’s Russian team.
A leading Russian law firms rating directory Pravo-300 released the results of its first ever research of legal markets of CIS countries. The main goal of Pravo-300 International is to provide an overview of the regional legal market, identify main players and help Russia law firms find reliable partners for projects in the local jurisdictions.
On 11 February 2021, GRATA International held the International Taxation online conference.