Uzbekistan introduces new measures to support population and economy
03/04/2020 22:29
Uzbekistan introduces new measures to support population and economy
03/04/2020 22:29
Tashkent, Uzbekistan (UzDaily.com) - Assignment of benefits to families with children, child care and material assistance, whose payment deadlines expire in March-June, is automatically extended.
Addressees are not required to reapply relevant applications. At the same time, the Cabinet of Ministers has been instructed to simplify the procedures for assessing the need of families to receive social benefits.
Expected results increase in the number of recipients of benefits for 123 thousand families. Additional expenses (due to the Anti-Crisis Fund) for about 600 billion soums will be issued.
Lonely elderly and disabled people will additionally receive free disposable masks, antiseptic agents and antibacterial soap for the period of quarantine.
The decision was adopted to prolong loans to individuals and individual entrepreneurs payable in the next 6 months of 2020 (4.7 trillion soums).
The calculation of a fixed amount of tax on personal income and social tax for individual entrepreneurs who are forced to suspend their activities is suspended.
Tour operators, travel agents and hotel services entities, Uzbekistan Airports, Uzbekistan Airways JSC and Ufa Aeronavigation Center State Unitary Enterprise are exempted from paying property taxes and land, and the social tax rate is reduced for them to 1%. Thanks to which, more than 130 billion soums will remain at their disposal.
Micro-firms and small enterprises, individual entrepreneurs, which have suspended their activities and (or) for which the amount of proceeds from the sale of goods (services) is reduced by more than 50 percent compared to the monthly average for the first quarter of this year, provides an interest-free deferral (installment plan) for up to October 1 2020 on a notification basis of tax authorities:
- for sales tax, property tax, land tax, tax for the use of water resources with their subsequent payment in equal shares within 12 months, without submitting an application to local government bodies;
- on social tax with its subsequent payment in equal installments within 6 months.
- the accrual and collection of rental payments for the use of state property by business entities that have been forced to suspend their activities for the period of the quarantine measures is suspended;
Business entities with a turnover of up to 1 billion soums per month using electronic invoices are transferred from monthly to quarterly VAT payments, which will allow them to increase monthly working capital (about 150 billion soums).
With regard to unused production facilities and non-residential buildings, the application of increased property tax and land tax rates, as well as interest and penalties for collecting debts on them, is suspended. This measure will affect about 21 thousand enterprises).
When providing interest-free financial assistance, income calculated on the basis of the Central Bank rate will not be taxed by taxpayers on income and income tax will not be taxed on turnover.
The amount of mandatory prepayment by legal entities for gas and electricity is reduced from 100 to 30%, which will reduce the diversion of working capital.
- the deadlines for conducting annual mandatory audits according to the results of 2019 are extended (the next year the annual mandatory audits of limited and additional liability companies with a book value of assets of more than 100 thousand DBS are postponed).
- A moratorium on initiating bankruptcy procedures and declaring bankruptcy of enterprises faced with financial difficulties is introduced.
The established increase in excise tax rates for the sale of gasoline, diesel fuel and gas to the final consumer, as well as for producers of alcohol and alcohol products, is canceled.
- zero rates of customs duty and excise tax are established
- for the import of the most important goods - food (meat, fish, flour, sugar, dairy products, vegetable oil, eggs, onions and others) and hygiene.
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18/04/2024Read more
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