The department for Personal Income Taxation of the State Tax Committee of Uzbekistan clarified that, amongst other items, the following amounts are excluded from taxable income:
- amounts paid by enterprises, institutions, and organisations to their own employees or for them by way of complete or partial compensation for the cost of placing their children in health-improvement institutions or sanatoriums and for the cost of treatment of their own employees;
- amounts paid by enterprises, institutions and organisations for disabled persons as a matter of complete or partial compensation for the cost of services of health-improvement institutions and sanatoriums, the cost of medical treatment, acquisition of technical facilities for prevention of disability and for rehabilitation of the disable;
- pensions, as well as additional pension payments;
- cost of gifts (in kind) received from enterprises, institutions and organisations, limited to a maximum of three statutory minimum monthly wages;
- amounts of material aid limited to the statutory minimum monthly wage multiplied by three;
- amounts spent on acquisition of registered housing bonds and redemption of loans of "Tashzhilsberbank";
- other payments (according to the Instruction of State Tax Committee of Uzbekistan No. 33/24 dated 21 May 1993).
Clarification of the department of Personal Income Taxation of State Tax Committee of Uzbekistan NV/27, 4-10 July 1996
PROPERTY TAX ON INDIVIDUALS/TIMING OF PAYMENT
The property tax payment deadline for the first six months of a year is established as 15 June 1996. The 15 June payment is the first semi-annual payment of this tax. The second and final instalment is due by 15 December.
Clarification of the Chilanzar State Tax Inspectorate NV/27, 4-10 July 1996
MODERNISATION OF FIXED ASSETS/ALLOCATION TO THE COST OF PRODUCTION
Expenses of enterprises for modernisation of equipment and reconstruction of fixed assets are included in the cost of production at the time when they were incurred. These capital costs are booked to account No.26 "Expenses of the period excluded from the taxable base" and to off-balance sheet account No.010 of the same name. Subsequently, they are written off to the cost of production over the period of their life or over 10 years, whatever the term is shorter.
Consultancy of specialist of "NTV" NTV/30, 25-31 July 1996
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information contact David Simpson, Tax Manager, Tashkent office on tel: +750 2225 8600 or e-mail: David_Simpson@ru.coopers.com or enter a text search 'Coopers & Lybrand' and 'Business Monitor'.
