PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of October 6, 2021 No. UP-6319

About measures for further stimulation of exploration works and enhancement of procedure for the taxation of subsoil users

For the purpose of industrial development of mineral deposits with broad attraction of foreign investments, stimulations of exploration works with the help of modern methods and technologies, and also further enhancement of procedure for the taxation of subsoil users:

1. Determine that since January 1, 2022 the special procedure for exposure to the competitive biddings of right to use by the subsoil plot for geological studying or production on earlier reconnoitered subsoil plot of hydrocarbons, precious, non-ferrous, rare and radioactive metals and other types of objects of the ore minerals having essential business potential is established. At the same time:

the sales amount is considered as the bonus amount for mineral right and is transferred into the republican budget of the Republic of Uzbekistan less expenses of organizers of the competitive biddings;

organizers or participants of the competitive biddings have the right to offer the increased size of the tax rates on separate types of tax in case of production (extraction) of minerals according to the procedure established by the legislation.

2. Agree with the offer of the Ministry of Finance, Ministry of Economic Development and reducing poverty and the State committee on geology and mineral resources on cancellation since January 1, 2022 of bonus of the commercial detection levied for the right of mining, and also the subscription bonus levied for the right of implementation of activities for search and investigation of minerals.

3. Determine that since January 1, 2022:

a) the parcels of land which are taken away for carrying out exploration and (or) prospecting works are not the taxation object the land tax from legal entities;

b) the annual royalty for use of natural resources for geological studying estimated proceeding from the reserved space and types of minerals in the sizes established by acts of the legislation is entered;

c) the annual royalty for use of natural resources for geological studying goes:

70 percent - in the republican budget of the Republic of Uzbekistan;

15 percent - in local budgets of areas;

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