Changes and additions to some legislative acts introduced

Tashkent, Uzbekistan (UzDaily.uz) - The Law of the Republic of Uzbekistan “On Amendments and Additions, as well as Recognition of Certain Legislative Acts of the Republic of Uzbekistan in Connection with the Adoption of the Tax Code of the Republic of Uzbekistan” has been developed with the aim of bringing other legislative acts into line with the new Tax by the code.

In particular, the Law introduces amendments and additions:

- to article 21 of the Law "On Subsoil" in view of the deduction from the subject of the Tax Code of issues of payment of a signature bonus and a bonus for commercial discovery;

- in the laws “On family business”, “On farming” and “On private enterprise” regarding cancellation of benefits regarding the amount of profit after taxes and other obligatory payments remaining at the disposal of the owner of a private enterprise, a participant in the family enterprise and the head of the farm. Moreover, the profit is considered as dividends and taxed at a rate of 5 percent.

In addition, 65 legislative acts are introduced for recognition as invalid in connection with the adoption of the new version of the Tax Code.