Tax Alert: 25 July 2012

Increase of the Minimum Monthly Wage

In accordance with the Presidential Decree No.ПП-4450 of 5 July 2012 effective from 1 August 2012 the amount of the Minimum Monthly Wage (MMW) is increased from UZS 62,920 to UZS 72,355. 

Improvement further liberalisation of business environment 

Two Presidential Decrees have been issued with the aim to improve the business climate. The Presidential Decree No.ПП-4453 of 16 July 2012 reduces statistical, tax and financial reporting requirements, number of activities subject to licensing and permissive procedures.
 

New Double Tax Treaty

Convention between the Government of the Republic of Ireland and the Government of the Republic of Uzbekistan for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and on Property was signed during the visit of the Chairman of the State Tax Committee of the Republic of Uzbekistan Botir Parpiev to the Republic of Ireland, which was conducted on 8 – 13 July 2012.