Convention between the Republic of Uzbekistan and Kingdom of Spain for the avoidance of double taxation and prevention of fiscal evasion with respect of taxes on income and capital was signed on 8 July in Madrid. The Convention shall become effective once ratified by both countries.
In accordance with Presidential Decree No. PP-4547 of 11 July 2013 effective from 15 August 2013 Minimum Monthly Wage is increased from UZS 79,590 to UZS 91 530. Minimum Monthly Wage affects, among others, calculation of salaries in public sector, retirement pensions, personal income tax, statutory fines and duties etc.
Resolution approves the list of certain imported consumer goods subject to obligatory labeling in Uzbek language at production facilities. Previously, labeling in Uzbek language could have been made by the importer of goods.
The above requirement applies, among others, to:
Labelling requirements do not apply to imported consumer products not intended for resale or production/commercial use.
Regulation on monitoring of foreign currency transactions carried out by legal entities and individuals (Regulation) was approved by joint Resolution of the State Tax Committee, State Customs Committee and Central Bank of Uzbekistan (registered by the Ministry of Justice under #2467 of 12 June 2013).
In general, Regulation reinforces existing legislation in this area along with introduction of certain changes. Thus, in accordance with the Regulation commercial banks shall provide information on foreign currency transactions carried out by their customers and having certain signs/characteristics, including, but not limited to:
The following ‘signs’, among others, were not included into the Regulation and should not be reported any longer:
We note that no changes have been introduced to the list of ‘black listed’ countries, which can be provided at request.
Resolution approves the Regulation on confirmation of customs value of goods imported by legal entities into the customs territory of the Republic of Uzbekistan and subject to exemptions from customs payments.
Thus, under Resolution an importer utilizing exemptions on customs payments at the moment of clearing of goods under ‘free circulation’ regime should submit to customs authorities the export customs declaration (or other similar/substituting document) along with documents supporting expenses incurred before the imports had reached the customs territory of Uzbekistan.