Resolution of the Ministry of Finance, Ministry of Economics and State Tax Committee of Uzbekistan No. 2312-1 introduced amendments to the Regulation “On application of tax incentives by enterprises attracting direct private foreign investments” (the Regulation). The amendments are introduced in accordance with the President’s Decree No. 4434.
In accordance with Presidential Decree No.ПП-4482 of 9 November 2012 effective from 1 December 2012 Minimum Monthly Wage is increased from UZS 72,355 to UZS 79 590.
Resolution provides that in 2013 decrease in the level of localisation below 30% shall not be treated as violation if it results from reduction of production costs due to: