30.11.2020
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.
29.10.2020
In September 2020 GRATA International in Kazakhstan became the most read contributor among other authors.
British Virgin Islands intends to create public register of beneficial owners by 2023
As one of the anti-money laundering measures adopted in accordance with international standards, the government of the British Virgin Islands plans to create a public register of beneficial owners of companies registered there by 2023.
The Convention between Japan and Uzbekistan on the elimination of double taxation comes into force
On 17 September 2020, there were completed the procedures for the entry into force of the “Convention between Japan and the Republic of Uzbekistan on the elimination of double taxation with respect to taxes on income and the prevention of tax evasion and avoidance” (the “Convention”) signed in December 2019. The Convention will enter into force on 17 October 2020.
VAT action plan: Azerbaijan
The Cabinet of Ministers of the Republic of Azerbaijan adopted an action plan in accordance with paragraph 10.2 of Order No. 1950 of the President of the Republic of Azerbaijan dated 19 March 2020.
Excise tax on imported vehicles and recycling fee
According to the Presidential Decree “On measures to further streamline foreign economic activity and stimulate the development of the domestic market for motor vehicles” dated 3 June 2020, No.ПП-4739, from 1 August 2020, the current excise tax rates on the following types of imported vehicles are canceled:
Parliament of Georgia adopted a new law on Changes to the Tax Code of Georgia
The Parliament of Georgia adopted the Law # on Changes to the Tax Code of Georgia #6815-RS from 14 July 2020.
Transition to a simplified tax system in 2020
The simplified tax system has been the most popular preferential tax treatment for several million taxpayers for many years.
Changes in the Personal Income Tax in 2020
On 31 July 2020, on the official web portal of legal information http://www.pravo.gov.ru, the federal law No 265-FZ ‘On Amendments to Part Two of the Tax Code of the Russian Federation’ was published and constituted.
By sub-clause 2 of Article 1 of the law 265-FZ, Article 207 of the Tax Code is supplemented with sub-clause 2.2. Despite the fact that the law 265-FZ was put into force on 31 July 2020, the provisions of clause 2.2 of Article 207 of the Tax Code of the Russian Federation apply to legal relations that arose from 1 January 2020.
By sub-clause 2 of Article 1 of the law 265-FZ, Article 207 of the Tax Code is supplemented with sub-clause 2.2. Despite the fact that the law 265-FZ was put into force on 31 July 2020, the provisions of clause 2.2 of Article 207 of the Tax Code of the Russian Federation apply to legal relations that arose from 1 January 2020.