RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of April 14, 2021 No. 216

About approval of the Regulations on procedure for removal from accounting of bad debts in single electronic information system of the foreign trade transactions

According to the resolution of the President of the Republic of Uzbekistan of January 14, 2021 No. PP-4949 "About measures for realization of the export potential of the Republic of Uzbekistan for 2021" the DECIDES: Cabinet of Ministers

1. Take into consideration that according to the resolution of the President of the Republic of Uzbekistan of January 14, 2021 No. PP-4949 "About measures for realization of the export potential of the Republic of Uzbekistan for 2021" are transferred to Government commission concerning development of export and investments functions and powers of the Permanent republican working group on reducing the receivables and payables according to agreements in foreign trade formed by the resolution of the Cabinet of Ministers of June 6, 2019 No. 464 "About organizational measures for strengthening of payment discipline for the foreign trade transactions".

2. Approve Regulations on procedure for removal from accounting of bad debts in the Single electronic information system of the foreign trade transactions according to appendix No. 1, providing:

identification of debts and the documents proving them;

role and powers of Government commission concerning development of export and investments and the territorial commissions in removal from accounting of debts;

procedure for the organization of removal from accounting overdue hopeless debit and creditor debts on export and import agreements;

the accountability mechanism on removal from accounting of bad debts in the Single electronic information system of the foreign trade transactions.

3. Create the territorial commissions on questions of development of export and investments with standard structure according to appendix No. 2.

4. Make changes and additions to some decisions of the Government of the Republic of Uzbekistan according to appendix No. 3.

5. Recognize the resolution of the Cabinet of Ministers of June 6, 2019 as No. 464 "About organizational measures for strengthening of payment discipline for the foreign trade transactions" invalid.

6. To the ministry of investments and foreign trade of the Republic of Uzbekistan in a month:

together with the Central bank, the State Tax Committee and the State Customs Committee to enter the corresponding program and technical changes following from this resolution into the Single electronic information system of the foreign trade transactions;

together with the interested ministries and departments to bring the regulatory legal acts adopted by them into accord with this resolution.

7. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan concerning investments and foreign economic relations - the minister of investments and foreign trade Umurzakov S. U.

Appendix № 1

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of April 14, 2021 No. 216

Regulations on procedure for removal from accounting of bad debts in the Single electronic information system of the foreign trade transactions

Chapter 1. General provisions

1. This Provision determines procedure for removal from accounting of overdue debit and creditor debts of business entities on agreements in foreign trade (further - debts) in the Single electronic information system of the foreign trade transactions (further - EEISVTO).

2. In this Provision the following basic concepts are used:

bad debt - the debt created in EEISVTO, but which is not subject to payment in connection with discharge of the parties of agreements in foreign trade by a court decision or in connection with bankruptcy, liquidation, the death of the debtor or the expiration of limitation period and also the debt created in EEISVTO, but which is actually absent between the parties of agreements in foreign trade in case when goods became unsuitable in the course of transportation and storage for the reasons which are not depending on agreement parties or are confiscated or destroyed by state body, including as a result of the discount provided based on the credit note;

reasonable receivables - the debt within export agreements having legal reasons by the relevant documents which collection from overseas enterprise is difficult;

the credit note - the settlement document about provision of one of the parties specified in agreements in foreign trade, the second party of discount in certain size from the agreement amount.

Chapter 2. Identification of debts and the documents proving them

3. Debts on agreements in foreign trade are created and struck off the register in EEISVTO.

4. Debts are created in EEISVTO based on these business entities, bodies of the State Customs Service, the commodity and raw exchange and the exhibition and fair organizations, and also commercial banks.

5. In EEISVTO the debt is recognized hopeless case:

discharge of business entities according to the judgment;

the death of the individual entrepreneur, getting out of nationality of the Republic of Uzbekistan and departure on permanent residence to other state;

expirations of aggregate term of limitation period;

removals from accounting of debts of business entities based on the decision of the Government;

implementation of complete actual settlement of debt, and also complete collection of all penalties imposed on overdue receivables;

wrong forming of debt on technical and other reasons;

emergence of debt in connection with provision of discount based on the credit note;

the terminations of the obligation of the nonresident offsetting of counter claims of the same kind or replacement of the initial obligation of the nonresident who is available between the parties on other obligation providing other subject or method of execution between the same persons;

emergence of debt when goods became unsuitable in the course of transportation and storage for the reasons which are not depending on agreement parties and also as a result of destruction or confiscation by state bodies;

partial covering of debt for the account of the commission of insurance company in case of receipt of insurance coverage in connection with non-execution of obligations.

The exception of business entities of the Unified state register of subjects of entrepreneurship as a result of their bankruptcy or liquidation is considered as bad debt which is automatically struck off the register in EEISVTO.

6. The bad debt is confirmed by the following documents:

the judgment about discharge of business entity, completion of the procedure of bankruptcy and lack of possibility of satisfaction of obligations;

death certificate of the individual entrepreneur;

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