President approved a new package of anti-crisis measures

President approved a new package of anti-crisis measures

The presidential decree approved the next measures to support the population and business during the coronavirus pandemic: exemption of small businesses from property and land taxes, writing off the amounts on them, expanding the number of recipients of benefits for families with children, and others.

President of Uzbekistan Shavkat Mirziyoyev signed a decree "On regular measures to support the population and business entities during the coronavirus pandemic."

According to the document, from June 1 to September 1, 2020, small businesses, as well as markets and shopping malls, cinemas, catering establishments, public transport, legal entities carrying out activities for the transportation of passengers, providing personal services, the provision of premises for rent, including for banquets, and sports and recreation facilities.

Small businesses will be provided with additional government support in the form of write-offs of amounts:

property tax and land tax payable for April and May, for which an interest-free deferral (installment plan) is provided in accordance with presidential decrees of March 19, No. UP-5969 and of April 3, No. UP-5978;
penalties and fines for land tax and property tax as of May 15, formed from January 1.

Earlier, entrepreneurs received the right to receive a deferral for VAT payment when importing goods (works, services) for up to 120 days. Micro-firms and small enterprises engaged in foreign economic activity at least one year before the day of contacting the customs authorities will receive the right to apply a deferred payment of customs duties and excise taxes levied on the import of goods, with the exception of consumer goods, for a period until July 1 with subsequent payment of the deferred amounts in equal installments within 120 days.

From May 1 to July 1, for microfirms and small enterprises, with the exception of manufacturers of excisable products, state enterprises, legal entities with a state share in the authorized capital (authorized capital) of 50 percent or more, the social tax rate is reduced from 12% to 1% ...

The decree suspends the collection of taxes, penalties and fines accrued from micro-firms and small enterprises as of May 15 for violation of tax legislation until September 1.

The tax authorities have been instructed to revoke collection orders for debiting and transferring funds from their bank accounts as of May 15.

Taxpayers will be able to revoke payment orders outstanding as of May 15 for the fulfillment of tax obligations.

An experiment to provide loans for the construction and reconstruction of individual housing at the expense of the resources of the Ministry of Finance will be extended to Tashkent.

From June 1, an additional 10% will increase the number of recipients of benefits for families with children under the age of 14, childcare until they reach the age of 2 years and material assistance.

The decree instructed to provide additional state support in the form of the provision of compensation for the covered interest costs by the State Fund for the Support of Entrepreneurship:

for investment loans issued in national currency with an interest rate not exceeding 1.75 times the Central Bank's base rate, in the first year of the loan agreement;
on loans in the amount of up to 500 million soums, issued before October 1 in national currency to replenish working capital, in the amount of 10 percentage points for the term of the loan agreement.

The Business Ombudsman was instructed to monitor the completeness and timeliness of the application of benefits and measures of state support provided during the coronavirus pandemic, with the introduction of proposals on the application of measures of responsibility for violation of the law.

The Ministry of Finance should allocate subsidies from the Anti-Crisis Fund to the budget of Karakalpakstan, local budgets of regions, the city of Tashkent, districts and cities, as well as the off-budget Pension Fund (if necessary) in connection with the shortfall in income from the provided tax benefits and an increase in the number of recipients of social benefits.

Source: gazeta.uz