EY: Amendments to the tax and customs codes of the Republic of Uzbekistan enacted from 1 January 2023

In December 2022, the legislative acts updating and amending the Tax Code of the Republic of Uzbekistan (the “TC RUz”) and the Customs Code of the Republic of Uzbekistan (the “CC RUz”) were passed.^[1] Changes are effective starting from 1 January 2023 unless stated otherwise.

Some of the amendments provided by these Laws were already announced earlier in 2022 by the relevant Presidential Decrees and after the adoption of the Laws the changes were duly incorporated in the Uzbek legislation.

In this review, we have summarized what are, in our opinion, the most significant changes. However, for a complete list of changes, we recommend also reviewing the text of the relevant legislative acts, as well as the effective TC RUz and CC RUz.

How can EY help?

We will be glad to provide our assistance in the following areas:

• Consulting services regarding the applicability of new regulatory requirements to your company.
• An assessment of the impact of these legislative changes on existing business structures, including taxation of both current and planned transactions.
• Revision and update of the company’s tax accounting policy, taking into account legislative changes.
• Preparation of relevant queries to the regulatory authorities on the application of new legislative rules that may require clarifications.

We hope that you found this overview helpful. We will be glad to advise you on these changes in more detail and discuss them should you have any questions.

Dilovar Mavlonov Partner, Tax Services   Tel.: +998 78 140 6482 dilovar.mavlonov@uz.ey.com

Maryna Tarnavska Director, Tax Services   Tel.: +998 78 140 6482 maryna.tarnavska@uz.ey.com

Contact details:

[1] Law of the RUz #812 “On amendments and additions to some legislative acts of the RUz due to adoption of main directions of tax and budget policy for 2023” dated 30 December 2022; Law of the RUz #813 “On the state budget of the RUz for 2023” dated 30 December 2022; Presidential Decree of the RUz PP-471 “On measures to ensure the implementation of the Law of the RUz ‘On the State Budget of the RUz for 2023” dated 30 December 2022.