of April 20, 1994 No. UP-837
About measures for ensuring currency exchange control for export-import transactions
For the purpose of streamlining of transactions in foreign currencies, establishments of efficient control of receipt of currency earnings from export and its target use when implementing commodity import and services:
1. Determine that:
export quotas of goods (works, services) are not subject to sale, transfer or redistribution to other legal entities;
implementation of settlement on export-import transactions of the companies, organizations and organizations of the Republic of Uzbekistan with foreign partners through accounts of firms in foreign banks is forbidden and pursued under the law.
2. Impose control of movement of means in foreign currency on export-import and other currency transactions of physical persons and legal entities of the Republic of Uzbekistan on the Central bank, Audit Chamber, the Ministry of Finance, the State Tax Committee and the State Customs Committee of the Republic of Uzbekistan.
3. Approve Regulations on currency exchange control on export-import transactions according to appendix.
4. To the Ministry of Justice of the Republic of Uzbekistan to make offers on establishment of criminal and other measure of responsibility of physical persons and legal entities for violation of established procedure of recoverability of currency earnings and payment of its share belonging to the state.
5. To provide to the Cabinet of Ministers of the Republic of Uzbekistan in two weeks reduction of earlier made decisions of the government, and also regulating documents of the ministries and departments in compliance with this decree.
President of the Republic of Uzbekistan
to the Presidential decree of the Republic of Uzbekistan of April 20, 1994 No. UP-837
According to the Presidential decree of the Republic of Uzbekistan "About measures for ensuring currency exchange control for export-import transactions" and the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of April 11, 1994 No. 195 "About urgent measures for strengthening of currency circulation and increase in purchasing power of bags coupons is established the following procedure of control of movement of means in foreign currency when implementing by the companies, associations and the organizations (in subsequent - the companies) the external economic transactions.
1. The companies of the Republic of Uzbekistan can open the account in foreign currency only in commercial banks of Uzbekistan if other is not established by the Central bank of the Republic of Uzbekistan.
2. All means in foreign currency received from economic activity of the companies are subject to obligatory transfer into their accounts in foreign currencies according to the procedure, established by the Central bank of the Republic of Uzbekistan.
3. The contracts signed by the companies with their foreign partners, including from the CIS countries, for export of the licensed goods, are subject to registration in the Ministry of Foreign Economic Relations, Investments and Trades of the Republic of Uzbekistan in accordance with the established procedure.
4. All contracts in foreign trade are subject to monitoring in bodies of currency exchange control, commercial banks through the Single Electronic Information System of the Foreign Trade Transactions (SEISFTT) except for of commodity export (services) worth up to three thousand US dollars realized by means of electronic commerce.
5. The companies - exporters of goods specify in the cargo customs declaration details and full name of commercial bank through which calculations with foreign partners will be made.
6. Bodies of the State Customs Service exercise control (monitoring) of completeness, timeliness and correctness of input in EEISVO of data on movement of goods on contracts in foreign trade.
7. Commercial banks exercise daily control of completeness, timeliness and correctness of input in EEISVO of data on cash flow on contracts in foreign trade.
Information on not payment receipt facts or receipts them in the smaller amount is created at the scheduled time in EEISVO. Bodies of the State Tax Service use data EEISVO for acceptance of adequate measures.
8. Ceased to be valid according to the Presidential decree of the Republic of Uzbekistan of 03.05.2018 No. UP-5428
9. The companies bear responsibility for timely and complete receipt of revenue into their accounts for shipped goods and the rendered services.
At the same time revenue assignment is forbidden by the Uzbek exporters by application of the transferabelny letters of credit and other payment documents performed for benefit of other legal entities.
11. The transfer of currency earnings into the accounts opened in foreign banks contradicting requirements of the legislation of the Republic of Uzbekistan is qualified as its concealment.
12. Payment of imported goods shall be performed from the account of the company in the bank of Uzbekistan servicing it.
13. The main payment methods on export-import transactions are documentary credits, bank transfer and the collection.
14. Commercial banks bear responsibility for timely and correct data entry about cash flow in EEISVO and the correct application of payment methods on the foreign trade transactions.
15. The losses and damage put to both the state, and account holders in foreign currencies as a result of the wrong actions of commercial banks or exceeding of the powers them are subject to obligatory compensation by these banks.
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