ORDER OF THE DIRECTOR OF THE AGENCY ON MANAGEMENT OF THE STATE ASSETS OF THE REPUBLIC OF UZBEKISTAN

of May 6, 2025 No. 01/14-11/38

About entering of amendments and changes into the Single national standard of assessment of the Republic of Uzbekistan

According to the Law of the Republic of Uzbekistan "About estimative activities" and the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of January 11, 2024 "About measures for the organization of activities of the Agency on management of the state assets of the Republic of Uzbekistan" I order to No. 23:

1. Make additions and changes to the Single National standard of assessment of the Republic of Uzbekistan approved by the order of the Director of the Agency on management of the state assets of the Republic of Uzbekistan of October 25, 2023 No. 01/11-14/29 (registration No. 3487, on December 28, 2023) (The national database of the legislation, 30.12.2023, No. 10/23/3487/0991) according to appendix.

2. This order is approved from Association of the estimative organizations, Society of appraisers and Society of appraisers, experts and consultants.

3. This order becomes effective from the date of its official publication.

It is approved: Director of society of appraisers May 5, 2025

F.Mirsoatov

Chairman of association of the estimative organizations May 5, 2025

A. Islamov

Director of society of appraisers, experts and consultants May 5, 2025

Z.Nigmankhanov

 

Appendix

to the Order of the director of the Agency on management of the state assets of the Republic of Uzbekistan of May 6, 2025 No. 01/14-11/38

Amendments and changes made to the Single national standard of assessment of the Republic of Uzbekistan

1. Add Item 5 with the paragraph of the following content:

"No. 15 sales tax "Value assessment of vehicles"".

2. In Item 9:

to state the paragraph of the thirty seventh in the following edition:

"retrospective assessment - assessment executed by the appraiser for the corresponding date of last period. Calculations and information on the given analogs to which the appraiser refers by preparation of the valuation report shall correspond to date for which assessment is carried out. If necessary current prices of analogs are given to date of assessment taking into account normative data (currency rates (according to the Central bank of the Republic of Uzbekistan) or indexation (according to National committee of the Republic of Uzbekistan according to the statistics) or inflation (according to the Central bank of the Republic of Uzbekistan)). At the same time the appraiser chooses one of the most suitable normative indicators depending on characteristics and features of object of assessment and proves this choice in the valuation report. For receipt of cost of analog for certain date in the past, today's cost of analog is indexed on one of the above-stated indicators chosen by the appraiser in the course of assessment.".

3. State Item 255 in the following edition:

"255. The valuation report is recognized reliable if it is constituted according to requirements of the Law of the Republic of Uzbekistan "About estimative activities", standards of estimative activities, requirements of other regulatory legal acts in the field of estimative activities and contains data of evidentiary value.".

4. Add with the Section XV-1 in the following edition:

"Section XV-1. Value assessment of vehicles (No. sales tax 15)

Chapter 1. General provisions

1§. Rules of value assessment of vehicles

605-1. The national standard of assessment "Value assessment of vehicles" (further by the text - No. sales tax 15) determines the main requirements to process of value assessment of vehicles, determination of the size of the material damage, and also feature of this process caused to them.

605-2. The value assessment of vehicles is performed based on requirements of sales tax No. No. 1 - 7. The sales tax No. 15 establishes additional requirements to value assessment of vehicles and determination of the size of the material damage caused to them.

605-3. Appraisers, in case of value assessment of vehicles, can use the technique given in appendix No. 10 to ENSO.

605-4. Within this sales tax vehicles are understood as the devices intended for transportation of passengers, baggage, goods, loads, post and express departures (cars, cargo vehicles, buses, trail cars and semitrailer trucks, special and specialized equipment vehicles on the chassis, the agricultural and road-building machinery, the motor-equipment (motorcycles, mopeds, scooters, etc.) and bicycles).

605-5. The number of vehicles does not join the vehicles which did not undergo state registration as vehicles.

605-6. Assessment objects according to sales tax include No. 15:

one unit of the vehicle;

parts, nodes, aggregates, details and other components of the vehicle.

2§. Determination of task for assessment

605-7. The task for assessment is constituted according to requirements of sales tax No. 2.

In case of value assessment of the vehicle its market value is determined if other is not provided by the regulatory legal act or the contract for assessment which is the basis for evaluating.

In cases when it is necessary to determine the cost type other than market value, the reason of use of cost and determination of cost type shall be proved, opened and explained in the valuation report.

In case of determination of cost types the appraiser shall be guided by requirements of sales tax No. 5.

In case of value assessment of the damaged vehicles the appraiser determines repair price (recoveries) of the damaged vehicles and the extent of the damage caused to the vehicle and also loss of their commodity cost.

In case of determination of market value of objects of assessment costs for the organizational activities connected with their realization (the public biddings, advertizing, etc.) are not considered.

3§. Collection and information analysis

605-8. The appraiser collects and analyzes information on object of assessment and market information, in the amount sufficient for the choice and application of approaches and evaluation methods.

605-9. The main sources of information on object of assessment are:

the initial information provided by the customer or other authorized person;

information obtained by the appraiser in case of survey of object of assessment;

information obtained from the third parties and the organizations and also information published in mass media and on the Internet.

605-10. The initial information provided, if necessary, by the customer or other authorized person consists from:

data on book value and depreciation of object of assessment as of the last reporting date;

documents of title;

the documents containing technical and constructive characteristics of object of assessment;

act of technical condition of object of assessment;

data on additional picking, subject to assessment as a part of assessment object (in the presence of those);

the documents containing data about availability of encumbrances (restrictions) of the rights to assessment object.

Depending on the purpose of assessment and features of object of assessment, the appraiser has the right to request other information necessary for evaluating from the customer.

605-11. Inspection of the vehicle is performed together with the customer representative or the owner. In case of survey of object of assessment, the appraiser carries out its identification.

605-12. The information provided by the customer, and also received from the third parties participating in performance of works is considered reliable if it is confirmed with the signature of the head (owner) and seal of the organization which provided information (for legal entities).

Information obtained from mass media, the Internet, survey results, results of interview and other similar sources is considered reliable if in the valuation report appropriate sources of this information are specified.

The customer bears responsibility for reliability of data on object of assessment and other information provided to the appraiser.

605-13. In necessary cases upon the demand of the appraiser person who submitted documents draws up explanations (comments) to the relevant documents in the form of additional references.

4§. Identification of object of assessment

605-14. Identification of object of assessment (determination of characteristics, assessment object conditions), is carried out by external survey of object of assessment (further in the text - survey) and studying of registration documents (the registration certificate of the vehicle, other official documents) and their comparisons with the identification numbers which are available on the vehicle.

605-15. Identification of object of assessment assumes the following:

factual determination of physical availability of object of assessment and documents of title on it;

determination of type of property rights on assessment object;

establishment of technical characteristics of object of assessment (type, brand, model, modification, the information about the manufacturer, year of release, month of production (in the presence of supporting documents), identification number of body (chassis), body type (cabins - for cargo vehicles and tractors, platform - for trail cars), the number of places, doors, number of the engine, type, working amount, the number of cylinders and capacity, type of the transmission (transmission), color and type of coloring, information on picking);

the description of registration characteristics of object of assessment (registration number, series and number of technical data sheet and if they are absent - the invoice, the purchase and sale agreement);

establishment of indicators of condition of object of assessment (suitability of details, the passable way according to indications of speedometer, the developed engine resource, employment duration, general condition of the car, operability of nodes and aggregates, effects of the repair made before survey or capital repairs, or replacement of parts of the vehicle);

description of damages of object of assessment (type, sizes and zones of damages, deformations).

Chapter 2. Application of approaches and evaluation methods in value assessment of vehicles

§1. Choice, reasons and application of approaches and evaluation methods

605-16. In case of assessment of the estimated property the appraiser uses one of approaches - comparative, profitable and costly.

605-17. The appraiser chooses methods within each approach to assessment taking into account the purpose of assessment, type of the determined cost, features of object of assessment, restrictive conditions, availability of information base and its completeness.

§2. Comparative approach

605-18. Comparative approach consists of set of the methods of calculation of cost based on information on market value of objects analogs and adjustment of their cost on comparison elements. Market value of objects analogs means transaction price and offers.

605-19. For cost determination of object of assessment by comparative approach the appraiser uses one of the following methods:

method of direct comparison of sales;

methods of statistic analysis (correlation, dispersion, regression).

605-20. The method of direct comparison of sales represents set of the calculations based on comparison of quality characteristics of object of assessment, objects analogs and cost determinations of object of assessment by introduction of adjustments regarding distinctions on elements of comparison and includes the following main stages:

market research, collection and information analysis about objects analogs;

matching of analogs;

determination of unit of comparison;

choice of elements of comparison;

choice of methods of calculation of cost;

calculation of adjustments for comparison elements;

price adjustment (costs) of objects analogs;

cost determination of object of assessment.

605-21. The main units of comparison are below included:

body type;

power unit;

vehicle unit.

605-22. Basic elements of comparison are below included:

vehicle type, brand, model, passenger capacity, load-carrying capacity, weight, size, engine capacity;

year of release, run and technical condition;

equipment (picking) and other elements of comparison.

605-23. The method of direct comparison of sales is applied in the following cases:

for vehicles, national production and production of countries of the Commonwealth of Independent States (CIS) - in the presence of at least three vehicles similar to assessment object (at least two concerning vehicles which production is stopped);

for the vehicles made abroad (in the countries which are not entering the CIS countries) - in the presence of at least two vehicles similar to assessment object.

605-24. Methods of statistic analysis are based on determination statistical (correlation, dispersive, regression) bonds between the price of object of assessment and parameters influencing assessment object price.

§3. Income approach

605-25. The income approach is based on determination of current value of the object of assessment which is in commercial use as the amounts of future income.

605-26. Within this sales tax methods of income approach can be used in the following cases:

when it is impossible to apply methods of comparative and costly approaches;

if object of assessment is the special and (or) specialized equipment which is independently creating the stable income in production cycle;

if object of assessment is the public or rare (rare) vehicle generating the income.

605-27. In case of value assessment of object of assessment the income approach uses method of direct earnings capitalization, and the project cost of assessment is determined by division of indicator of net operating income into capitalization rate.

605-28. In case of application of method of direct capitalization the appraiser shall:

calculate the capitalized size of net operating income;

calculate capitalization rate;

determine current value of object of assessment.

605-29. The capitalization rate is calculated with use of the buildup method and method of market extraction.

605-30. For determination of net operating income the appraiser can use operating expenses or cost of transport services (performance of works) by assessment object, at the same time the net operating income is calculated by subtraction of operating expenses on assessment object from cash receipts from commissioning of the object of assessment in lease.

605-31. The net operating income is determined as annual average value for the complete year following after year of date of assessment. At the same time, the appraiser should consider in forecasts change of rental rates or cost of transport services (works) taking into account the change in price.

§4. Cost approach

605-32. The cost approach is based on cost determination of the vehicle by deduction of cumulative depreciation from its all-in cost of reproduction or replacement cost.

605-33. Calculation of cost cost approach is perfromed in the following sequence:

determination of all-in cost of reproduction or replacement cost;

cost determination of the additional equipment installed on object of assessment which is not included in the factory package of assessment object (if necessary);

cost determination of elimination of defects and defects of object of assessment (if necessary);

determination of size of cumulative depreciation of object of assessment;

cost determination of object of assessment as differences between cost indicators of cumulative depreciation and all-in cost of reproduction or replacement cost (taking into account the cost of the additional equipment and costs for elimination of the defects and defects which are available in assessment object).

605-34. All-in cost of reproduction or replacement cost is determined by one of the following methods:

indirect method;

substitution method;

method of indexation of cost.

Cumulative depreciation is determined as the amount of physical, functional (moral) and economic (external) wear.

605-35. Based on the available information the physical wear of the vehicle is determined by one of the following methods:

method of statistical criteria;

method of normative depreciation;

method of physical wear taking into account chronological age and run/operating time since the beginning of operation;

method of natural physical wear for the vehicle, and also their component parts;

the method characterizing technical condition.

605-36. Functional depreciation consists in the relative reduction of cost of the vehicle caused by scientific and technical progress in automotive industry, the restrictions imposed by the state on production, import, the markets and operation of vehicles, cessation of production of vehicles, including cessation of production of spare parts to them and reduction of their usefulness for the informed buyer under the influence of other factors.

605-37. Economic (external) depreciation is reduction in cost of object of assessment as a result of negative impact on subject to assessment of the situation in the market.

Chapter 3. Approval of results of assessment

605-38. Approval of results of assessment is performed according to requirements of sales tax No. 6.

605-39. Approval of results of assessment is performed by establishment of indicators for the results of assessment received with use of different approaches to assessment. At the same time the appraiser shall consider:

purpose of assessment and intended use of results of assessment;

nature of object of assessment;

cost type;

amount and quality of information used in case of application of approaches to assessment.

605-40. All assumptions and the appraiser's assumptions in case of the choice of methods of approval and comparison of measurements shall be proved in the valuation report.

Chapter 4. Features of value assessment of the damaged vehicles and determination of the damage caused to vehicles

§1. General rules of value assessment of the damaged vehicles

605-41. The road accidents, major industrial accidents, natural disasters, earthquakes, mudflows, collapses, rockfalls, landslides, floods, floods, etc., and also intentional or inadvertent (caused on imprudence) the actions which led to damage of the vehicle are basic reasons of damage of vehicles.

605-42. Damage from damage (material damage) is the size of reduction in cost of the vehicle as a result of damage or cost amount, suffered on its recovery. The damage is determined as the amount of the actual loss of cost of the vehicle owing to damage or costs for recovery of the damaged vehicle to its technical condition just before damage and the amounts of loss of its cost (loss of commodity cost) as a result of work by its recovery.

Enters the amount of material damage:

material cost, necessary for repair;

the cost of the replaced spare parts taking into account their depreciation in the course of repair;

costs for repair work, including labor costs of masters;

the expenses which are directly connected with repair and additional expenses (total cost of normo-hours);

size of loss of commodity cost.

The missed income (lost profit) is not determined by this sales tax.

605-43. Repair price (recoveries) are costs for elimination of damages of the vehicle.

605-44. Loss of commodity cost - reduction of cost of the vehicle (goods) as a result of deterioration in consumer characteristics of the vehicle owing to availability in the vehicle of defects or traces of their elimination or authentic data on elimination of these defects.

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