PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of September 26, 2019 No. UP-5837

About measures for further enhancement of tax policy of the Republic of Uzbekistan

Within the Concept of enhancement of tax policy of the Republic of Uzbekistan measures for decrease in the tax load and reducing disproportions in the taxation of subjects of entrepreneurship are realized.

For the purpose of ensuring stability of the consumer market, creation of conditions for increase in competitiveness of domestic manufacturers, and also forming of continuous "chain" of the value added tax:

1. Lower since October 1, 2019 rate of the value added tax from 20 to 15 percent.

2. Cancel the operating procedure for suspension by bodies of the State Tax Service of account transactions of taxpayers in commercial banks.

To the Ministry of Finance together with the State Tax Committee of the Republic of Uzbekistan proceeding from the advanced foreign practice to provide in the project of new edition of the Tax code of the Republic of Uzbekistan procedure for suspension by bodies of the State Tax Service of account transactions of taxpayers in commercial banks for the term of no more than 30 days on the basis of results "risk analysis" and carrying out preventive measures.

3. To the Cabinet of Ministers of the Republic of Uzbekistan by preparation of the draft of the Government budget of the Republic of Uzbekistan for 2020 to provide:

decrease in rate of single social payment from 25 to 12 percent for the state companies, legal entities from shares of the state in authorized fund (authorized capital) in the amount of 50 percent and more, and also for legal entities, in authorized fund which (authorized capital) of 50 percent and more belongs to the legal entity from shares of the state of 50 percent and more, and their structural divisions;

establishment of base rate of the income tax of legal entities in the amount of 15 percent with preserving rate of tax on the income paid in the form of dividends;

cancellation of the simplified procedure for calculation and the tax discharge on value added.

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