The Presidential Resolution dated September 19, 2018 “On measures for the further development of auditing activities in the Republic of Uzbekistan” published on the UzA portal is an interesting one and it touches upon not only the auditors themselves and audit organizations, but also a number of business entities.
In particular, the expansion of the List of organizations subject to mandatory audits as of January 1, 2020 is an important innovation. That is, in the past they covered:
Now, this List will also include any commercial organization, which simultaneously meets 2 of the following conditions at the end of the fiscal year:
Thus, business entities, which presumably correspond to aforementioned characteristics, should take into account that by the results of the 2019 fiscal year, the audit becomes mandatory for them.
The amendments to Uzbekistan's legislation, which introduced the concept of "Abuse of Law" into the Tax Code, are currently causing many questions and ambiguous interpretations. In accordance with Article 14 of the Tax Code of Uzbekistan: if a taxpayer performs operations or a series of operations, the sole or primary purpose of which is to obtain an unjustified tax benefit in the form of non-payment or reduction of taxes owed, such actions are considered an abuse of rights for the purposes of this Code.
"Never say that you know a person if you have not divided an inheritance with them" (Johann Kaspar Lavater, Swiss writer, poet, and philosopher). Time has accelerated its pace: years pass by like days, and days fly by so quickly that you hardly notice them. Everything around us is changing rapidly, but the human desire to live in happiness and prosperity has remained unchanged throughout the centuries. Confidence in the future, the belief that what has been earned and accumulated will “serve” children, and possibly grandchildren, is also an understandable human desire. What opportunities does the law provide for the realization of all of the above? Naturally, we are talking about inheritance law. In Uzbekistan, expressing one's will by leaving orders regarding one's property in case of death is not as popular as, for example, in European countries. Perhaps, the reason lies in the traditional patriarchal way of life, habitual for the people, where the word of a man - the head of the family - has supreme power and does not require legal formalization.
