Worldwide Tax Summaries--UZBEKISTAN(1999-2000)(part2)

Worldwide Tax Summaries--UZBEKISTAN(1999-2000)(part2)

责任编辑:北京中立诚会计师事务所  文章来源:北京中立诚会计师事务所  点击数:  更新时间:2006/7/11 20:17:59

Legislation in the Republic of Uzbekistan is constantly evolving during the period of economic transition from the preindependence soCIAlist economy. On April 14,1997, Uzbekistan introduced a consolidated tax code, which in certain cases represents a significant change from the previous laws, regulations, and decrees. The tax code became effective on January 1,1998. Since that time the tax authorities have issued a number of regulations and procedures on how to apply the provisions of the tax code.
The information presented below is based on laws, regulations, and practices as of July 1,1999.
Noteworthy changes in the tax and regulatory legislation subsequent to the adoption of the tax code, which are effective from January 1,1999, include:
Both residents and nonresidents are subject to tax in Uzbekistan.
Residents are taxed on their worldwide income, whereas nonresidents are taxed on income from their activities in Uzbekistan. An individual is a resident if one of the following two tests is met.
    1. The individual is residing in Uzbekistan on a permanent basis.
    2. The individual is present in Uzbekistan for more than 183 days during any 12-month period beginning or ending in a calendar year.
1. Income from employment, including:
    a. Income from employment consists of the following;
    b. Salary and other payments for work performed, as envisaged by labor or civil contracts:
    c. Negative difference between the prices at which goods (work, services) are provided to employees and the costs of acquisition of these goods (work, services);
    d. Reimbursement of employee's expenses not related to business activity;
    e. Employee's debts to an employer forgiven by the employer;
    f. Employer's expenses in relation to nonobligatory life and health insurance;
    g. Amounts subject to withholding from an employee, but paid by an employer;
    h. Other expenses of an employer constituting, directly or indirectly, income of an employee.
2. Income from property (interest, dividends and rent income).
3. Income from entrepreneurial activity.
Capital gains taxes/Capital gains generated from entrepreneurial activity are subject to income tax.
Individuals have the right to a monthly deduction of one statutory of one statutory minimum monthly wage for tax purposes. The amount of the statutory minimum monthly wage will increase from August 1,1999 to UZS1,750 (approximately US$13.33). All amounts indicated here and below are calculated on the basis of the new figure.
The following income items are not subject to personal income tax.
    1. Statutory soCIAl security allowances, unemployment allowances, dismissal payments, maternity payments, aid payments received from charity and ecology funds (sick leave allowances are not exempt).
    2. Child support received.
    3. Scholarships.
    4. Statutory pensions.
    5. Income from disposal of personal property (if the disposal is in the course of entrepreneurial activity, the income is taxable).
    6. Gifts from legal entities valued at less than six times the statutory minimum monthly wage during a year (approximately US$80 per year).
    7. Money and property received in the course of inheritance.
    8. Insurance proceeds.
    9. Bank interest.
   10. Material support (if related to natural disaster-exempt in full; in other cases-limited to 12 times the statutory minimum monthly wage during a year (approximately US$160 per year).
   11. Dividends used for the purchase of shares of a company from which the dividends were received.
   12. Income from intellectual property.
   13. Reimbursement of business expenses (business trips), within norms.
Certain categories of individuals are also either fully exempt from personal income tax (for example, diplomats) or provided with an additional monthly deduction of four amounts of the statutory minimum monthly wage (approximately US$53.33 per month) (veterans, disabled people, widows (widowers) with children, women having many children, others).
There are no local income taxes.
According to the tax code relief is provided for foreign taxes paid to countries with which Uzbekistan has a double tax treaty.
The tax period is the calendar year. A tax return must be submitted by the individual to the tax authorities at the location of the individual's registration in Uzbekistan on or before April 1 of the year following the calendar year.
The tax rates are as follows.
                    TAXABLE INCOME                                TAX RATE
    Up to 3 times the minimum annual wage……………………………      15
    From 3 to 5 times the minimum annual wage………………………      25
    From 3 to 10 times the minimum annual wage……………………       35
    From 10 to 15 times the minimum annual wage……………………      40
    More than 15 times the minimum annual wage……………………       45

As of July 1,1999, the current minimum annual wage approximated US$125
(but from August 1,1999, this amount will increase to about US$160).

Exchange rate of the soum at December 31,1998: US$1=UZS110.00    来源:CFTInet, Beijing       

地 址:北京朝阳区北苑路13号领地OFFICE大厦B座7层701室
电 话:(010)- 52086638 51095615
传 真:(010)- 52086636
邮 编:100107
地 址:北京朝阳区北苑路13号领地OFFICE大厦B座7层701室
电 话:(010)- 52086638 51095615
传 真:(010)- 52086636
邮 编:100107