By virtue of the Law of the Republic of Uzbekistan No.ЗРУ-355 of 7 October 2013 a number of amendments to the legislation were introduced. The most notable amendments are as follows.
Deferral on payment of taxes, other obligatory payments and financial sanctions accrued in the result of tax audit may now be applied regardless of the amount due. Earlier the deferral could have been applied only if the aggregate amount of such payments exceeded 20% of current assets. Deferral is provided for a period of six month with payments of monthly equal instalments from the date of decision on collection of tax.
Frequency of the planned tax audits of the private banks and other financial institutions should not exceed one time in every five years.
Rate for calculation of the late payment interest (LPI) has been changed from 0.05% to 0.033% per day. Change of the rate brings the Tax Code in line with the Decree of the President of the Republic of Uzbekistan #УП-4354 of 24 August 2011 which have provided for reduction in the rate.
Income of individuals paid for cotton picking is included in the list of income exempt from personal income tax.
Additional charge of the customs payments could be made only within one year from the date of release of goods. Moreover, legal entities can submit written request to customs authorities to use the deferral of payment of additionally charged customs payments and financial sanctions. Deferral is provided for the period of six month with payment by equal monthly instalments.
Fines charged on individuals and authorised personnel for certain types of violations have been increased. Moreover, quite a few articles were supplemented by provisions envisaging penalties for repeated violations in the areas of taxation, employment, antimonopoly, social protection of disabled, securities and exchange activities, licencing and many others. Following are some examples of the amendments:
Law on accounting
Receipts from payment terminal issued for transactions carried out using corporate plastic cards are included into the list of primary supporting documents.
List of individuals not subject to probation period was amended to include graduates of specialised secondary institutions, professional educational institutions and higher education institutions starting their work for the first time within three years from the graduation date.
Another change to the Labour Code provides that the total duration of unpaid leave shall not exceed three months within a twelve month period.
Interpretation of unavoidable contradictions and ambiguities
Number of legal acts has been changed to include similar provisions stating that all unavoidable contradictions and ambiguities shall be treated in favour of business entity. In particular the following acts have been amended:
Amendments to order on calculation of late payment interest
Regulation of State Tax Committee No.ПП-1724-1 of 23 September 2013 (Regulation) introduced amendments to the Order on calculation of LPI in relation to taxes and other obligatory payments.
Revised norms of allowances
By the order of the Minister of Finance #89 of 19 September 2013 registered by the Ministry of Justice under #932-2 of 23 September 2013, statutory norms of daily subsistence allowances (DSA) for business trips outside of Uzbekistan have been revised. Examples of the amended norms are as follows:
Amendments to the currency control legislation
Following amendments were introduced to the Decree of the Cabinet of Ministers No.#245 of 29 June 2013 (Decree 245) in part related to collection of proceeds from export of goods.
Thus, foreign currency proceeds from export operations should be collected within:
If foreign currency is not collected within established terms, the exported goods should be returned to the seller.