Presidential Decree No.ПП-1887 of 25 December 2012
Presidential Decree No.ПП-1887 of 25 December 2012 introduced amended rates of certain taxes, as well as other changes to tax legislation. In this newsletter, we describe the most notable changes effective as of 1 January 2013.
Tax Code is amended as of 1 January 2013
By virtue of the Law of the Republic of Uzbekistan No.ЗРУ-343 of 25 December 2012 a number of amendments to the Tax Code were introduced as of 1 January 2013.
Amendments to other legislative acts
The Law of the Republic of Uzbekistan No.ЗРУ-343 of 25 December 2012 also introduced a number of amendments to the Law of the Republic of Uzbekistan “On foreign investments” No.609-I of 30 April 1998. Term of exemption from customs duties in relation to property imported to Uzbekistan by foreign investors and enterprises with foreign investment of at least 33% in the share capital for their own production needs is defined to comprise 2 years from the date of state registration of such enterprises. Previously term of this exemption was indefinite.
New Double Tax Treaty with the Republic of Ireland
On 28 December 2012 President of the Republic of Uzbekistan approved ‘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’ signed on 11 July 2012 in Dublin.