Tashkent, Uzbekistan (UzDaily.com) -- As part of the further improvement of the monitoring system of foreign trade operations in the Republic of Uzbekistan, the Unified Information System of Foreign Trade Operations (EEISVO) has been created. The corresponding government decision was adopted on 14 May 2020, Dunyo reports.

Business entities will enter information on foreign trade contracts and invoices in EEISVO in electronic form using electronic digital signature through the Unified portal of interactive public services.

The procedure for monitoring and controlling foreign trade operations has also changed. It introduced such concepts as import and export exchange (fair) contracts, a processing contract (outside and on the territory of the republic), centralized import and export contracts, and consignment export contract.

From now on, monitoring and control of foreign trade operations will include 4 stages.

Stage I - data entry into EEISVO:

- by an economic entity - according to concluded foreign trade contracts and invoices before the start of the operation;

- Exchange (fair) - for contracts concluded on the exchange within 1 business day after the conclusion of the contract on the exchange.

Stage II - entering into the EEISVO the following data:

- commercial banks, treasuries, commodity exchanges - information on the movement of currency funds under contracts and invoices, received online when making settlements;

- by customs authorities - information about the cargo customs declaration under the contract and invoice, received online upon arrival or shipment of goods;

- by an economic entity - acts of work performed within 1 day on the day the act is drawn up.

Entering data into the EEISO by business entities under contracts subject to examination at the State Unitary Enterprise “Center for the Comprehensive Expertise of Projects and Import Contracts” under the Ministry of Economic Development and Poverty Reduction is carried out with the relevant conclusion of the Center. Examination is carried out within 20 days.

At stage III, foreign exchange control bodies and commercial banks monitor and control ongoing foreign trade operations constantly within their competence.

At stage IV, the customs authorities and commercial banks, at the end of each month, upon detection of signs of violation of customs and currency legislation, the settlement procedure provide information to the tax authorities.