PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of December 27, 2024 No. UP-229

About the next measures for providing equal conditions for entrepreneurs and fair competitive environment

For the purpose of the implementation of offers and initiatives announced within dialogue of the President of the Republic of Uzbekistan with the leading entrepreneurs spent on December 20 the current year, full support of entrepreneurship, providing equal conditions and fair competitive environment in the market and also reducing share of shadow economy:

1. Determine that for a period of up to January 1, 2028 increase in rates of the value added tax and income tax is not made.

2. Establish during the period from January 1, 2025 to January 1, 2028 for the subjects of entrepreneurship performing productive activity in the directions of the sewing and knitted, footwear and leather haberdashery industry, and complying all following conditions at the same time, rates of the income tax and income tax from their workers in the amount of 1 percent:

at least 15 percent from total quantity of workers are constituted by members of the families included in the Unified register of social protection or the Register of poor families;

monthly the salary of each worker is charged in the amount of at least twofold size of the minimum wage;

in tax period the total sales which arrived from realization of sewing and knitted, shoe or leather haberdashery products constitute at least 90 percent of the comprehensive income gained from sales of goods (services).

3. Since April 1, 2025 the legal entities who are engaged in realization of pharmaceutical products or rendering medical services are recognized taxpayers on value added irrespective of their income.

At the same time to provide automatic creation by tax authorities of reports on the value added tax on the basis of checks online of the control and cash equipment or the virtual cash desk issued on the implemented goods (services) and also the drawn-up electronic invoices, other external and internal data.

4. To the Ministry of Economics and finance together with the Tax Committee in two-month time to introduce to the Cabinet of Ministers the bill on modification and the amendments in the Tax code following from Items 2 and 3 of this Decree.

5. Support the offer of Chamber of Commerce and Industry, Ministry of investments, the industry and trade, the Ministry of Economics and finance, and also the Central bank on formation of the Center of assistance to entrepreneurs in entry into the foreign financial markets (further - the Center) under Chamber of Commerce and Industry. At the same time:

The center renders consulting services to subjects of entrepreneurship on attraction of financial resources of the international financial institutions, foreign financial institutions and other credit institutions without the state guarantee;

services are annually rendered to at least 100 subjects of entrepreneurship in the Center;

expenses on placement, content, involvement of foreign and domestic specialists in the Center, and also other expenses connected with activities of the Center are performed at the expense of Fund of support of industries of Chamber of Commerce and Industry.

To the ministry of investments, industry and trade, the Ministry of Economics and finance, and also to the Central bank to give direct practical help in the effective organization of activities of the Center.

6. To allocate to fund of reconstruction and development for the credits allocated for replenishment of current assets in 2025 JSC The Company on Trade Development (further - the Company) based on its request additional resources in the amount of 100 million US dollars for the term of 5 years at the rate 2 annual interest rates with repayment provision since January 1, 2028.

7. Determine that:

The company allocates to commercial banks financial resources for financing of the credits allocated for replenishment of current assets of agricultural, industrial and trade enterprises;

The company provides guarantees on the credits of commercial banks allocated on replenishment of current assets, to 50 percent (inclusive) of the amount of the credits, but not exceeding the size of 10 billion sum;

by company funds deposit facilities in the amount of 50 million US dollars for accomplishment of the obligations arising according to the guarantees provided by the Company are created. At the same time the extreme size of the guarantees provided by the Company shall not exceed the size of the created deposit facilities.

8. Agree with the offer of Chamber of Commerce and Industry, and also Ministry of investments, the industry and trade on allocation to subjects of entrepreneurship since January 1, 2025 of revolving credits in national currency by means of commercial banks at the expense of resources of the Company on projects of calibration and packing in special container of agricultural products, and also for replenishment of current assets.

9. To the deputy prime minister Zh. A. Hodzhayev:

according to offers of Chamber of Commerce and Industry in a month to approve procedure for provision by the Company of guarantees to subjects of entrepreneurship for the credits of commercial banks, and also condition of the financial support provided to the subjects of entrepreneurship which are growing up and making industrial, agricultural and food output. At the same time to provide simplification of procedures for allocation by the Company of financial resources;

determine the directions of use of fund of assistance to trade. At the same time to adjust system of allocation of budget advance at the rate 2 annual interest rates on the account of the budgetary funds allocated for forming of fund of assistance to trade for the purposes of allocation of resources for the credits for replenishment of current assets with repayment provision in every fifth year.

10. Establish since January 1, 2025:

the amount of collection for each kilogram of the cotton yarn which is exported through customs border of the Republic of Uzbekistan, - 2 percent of its export price, but not exceeding 0, the 05th US dollar;

the amount of collection for each kilogram of the knitted cloth which is exported through customs border of the Republic of Uzbekistan - 1 percent of its export price.

11. Approve the offers of Public council on support of entrepreneurship for the President of the Republic of Uzbekistan (further - Public council) providing:

a) creation of expert groups with updating of structure of Public council according to appendix No. 1 *;

b) holding meetings of Public council and expert groups at least once a month with participation:

heads of authorized bodies, in particular Ministry of Economics and finance, Central bank, Committee on development of the competition and consumer protection, Agency on management of the state assets, Tax and Customs committees;

deputy prime ministers (D. A. Kuchkarov, Zh. A. Hodzhayev);

c) regular entering into Administration of the President of the Republic of Uzbekistan and the Cabinet of Ministers of the questions raised at meetings of Public council, and also offers on their decision.

12. Implement operating procedure concerning entrepreneurship according to which:

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info