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The President of the Republic of Uzbekistan signed the resolution “On measures to create additional equipment for the uninterrupted supply of industrial production with raw materials” No. ПП-392 of October 12, 2022 (the “Resolution No. ПП-392”).
According to Resolution No. ПП-392, until January 1, 2025, a zero import customs duty rate is applied to certain types of raw materials and semi-finished products. The list of goods covered by this exemption comprises 21 items and includes certain types of plants, tires, dyes, fabrics, etc.
In addition, Resolution No. ПП-392 supplements the list of technological equipment exempt from customs duties and value added tax when imported into the territory of the Republic of Uzbekistan with a list of technological equipment whose analogues are not produced in the republic.
Resolution No. ПП-392 established that under the regime of “transformation in the customs territory” the obligation to guarantee the payment of customs payments is eliminated for all participants in foreign economic activity.
In addition, as of January 1, 2023, in the absence of the cost of certain services in the contracts, the taxable income of a non-resident is calculated on the basis of the market value of these services. In addition, the current procedure for calculating a non-resident’s taxable income from the provision of installation and (or) commissioning and commissioning services, personnel training and other similar services is cancelled.
According to Resolution No. PP-392, the Government Commission on Foreign Trade, Investment, Local Industry Development and Technical Regulation is vested with a number of new powers in the area of approval of lists and countries with a high quality control system.
The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.
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