Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan has zeroed the excise rate on the sale of imported gas. This is stipulated by the President’s resolution "On measures for the stable supply of the population and economic sectors with natural and liquefied gas."

The document was adopted in order to ensure stable supply of natural and liquefied gas to the population and sectors of the economy, as well as to prevent a sharp rise in prices for these resources.

In accordance with the document, from 1 October 2021, the excise tax rate for the sale of natural gas imported by legal entities to Uzbekistan is zero.

From 1 January 2022, enterprises producing liquefied gas will not pay excise tax when selling a resource.

Business entities are granted the right to a deferral (installment plan) for the payment of value added tax (VAT) when importing natural and liquefied gas to Uzbekistan for up to 120 days without charging interest and requiring it to be paid.

The resolution notes that natural and liquefied gas will be sold to the population at regulated tariffs (prices).

When selling natural and liquefied gas to the population at a price lower than the purchase price (prime cost), taxes are calculated based on the price determined by the authorized bodies in the manner prescribed by legislative acts, the resolution says.

The head of Uzbekistan instructed to develop a draft law providing for amendments and additions to the Tax Code based on the adopted resolution.