For ensuring full collection of taxes and other obligatory payments the recent Presidential Decree prescribes the following measures:
- commercial banks should transfer amounts of taxes to the revenue if taxpayers have sufficient funds, irrespective of the status of their corresponding accounts; banks are also authorised to sell upon the order from the tax authorities hard currency from the accounts of taxpayers which have insufficient Soums for settling their tax liabilities;
- exported production (excluding centralised export) will be considered as realised with the obligation to pay all relevant taxes 60 days after customs clearance;
- banks must provide information regarding their clients' accounts upon the request of the tax authorities;
- opening of new settlement accounts in cases of changing banks will be allowed only after all tax liabilities are settled;
- retail companies or companies rendering public services are obliged to transfer the cash proceeds to banks on a daily basis;
- with effect from 1 September 1996 barter transactions in Uzbekistan are forbidden;
- commercial banks are obliged to make payments for supplied goods (works, services) directly to suppliers and are not allowed to offset payments with third entities.
Decree of the President of RU dated 9 August 1996
PERSONAL INCOME TAX / ANNUAL LEAVE PAYMENTS
The State Tax Committee of Uzbekistan has clarified details of the calculation of personal income tax on annual leave payments:
- Income tax should be calculated on income which has been received from the beginning of the year (including annual leave payments) with the exclusion of the statutory minimum wage for the whole period;
- the statutory minimum wage will not be excluded from salary for a month of annual leave if the leave period ends on or before the 15th of that month; likewise the statutory minimum wage will be excluded if the leave period ends after 15th of that month;
- the statutory minimum wage in respect of future annual leave may be excluded only within the same calendar year.
Letter of the State Tax Committee of Uzbekistan, #11/13-3674 12 August 1996
CUSTOMS DUTY/INDIVIDUAL IMPORTERS
From 1 September 1996 all individuals importing goods into Uzbekistan should pay 15% of the customs value of the goods exceeding the established norms of duty free import. The same new rule is applied in respect of goods mailed to individuals from abroad. It is understood that the relevant norms are to be established in the near future.
Decision of the Cabinet of Ministers of Uzbekistan #279 13 August 1996
INTRODUCTION OF EXCISE STAMPS FOR TOBACCO PRODUCTS AND SPIRITS
With effect from 1 October 1996 all tobacco products and spirits (except beer) produced in or imported into Uzbekistan should bear compulsory excise stamps ("banderoles") which will be distributed though banks nominated by the Cabinet of Ministers. Sale of such goods will be forbidden unless they bear excise banderoles.
Decision of the Cabinet of Ministers of Uzbekistan 14 August 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'.
