Tax Alert: 9 January 2012

Presidential Decree No.ПП-1675 of 30 December 2011 

Presidential Decree No.ПП-1675 of 30 December 2011 introduced amended rates of certain taxes, as well as other changes to tax legislation. 

Tax Code is amended as of 1 January 2012

There were a number of amendments introduced to the Tax Code as of 1 January 2012. 

Obligatory conclusion of lease agreements 

As of 1 January 2012 lease of buildings or their parts and residential premises between individuals is subject to conclusion of notarised lease agreements. Failure to comply with this requirement may lead to imposition of a fine from 5 to 10 MMW (approx. USD 175 -350).

Legalisation of foreign documents 

As we mentioned in our Tax Alert 4 of 21 July 2011 the Republic of Uzbekistan has joined the Hague Convention abolishing the requirement for legalisation of foreign public documents. Decree of the Cabinet of Ministers No.307 of 17 November 2011 has established Regulation on the procedure for issuance of apostille effective as of 15 April 2012. State duty for issue of an apostille comprises 10% of MMW (approx. USD 3.5). 

Accreditation of representative offices of foreign companies 

Generally, representative offices are not allowed to carry out any commercial activities. An amendment to the Regulation on accreditation and activities of representative offices of foreign commercial organisations in the territory of Uzbekistan introduces one exception whereby representative offices of foreign airline companies have a right to carry out commercial activities, in which case they should be considered as permanent establishments.