Timetric’s Uzbek fiscal regime report outlines governing bodies, governing laws, mining licenses, rights and obligations and key fiscal terms covering 4 commodities: gold, copper, silver and uranium.
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The mining industry is Uzbekistan is governed by the State Committee of the Republic of Uzbekistan on Geology and Mineral Resources, The State Inspectorate for Supervision and the State Committee of the Republic of Uzbekistan for Nature Protection. Law of the Republic of Uzbekistan “On Subsoil” is the apex law for mining industry in Uzbekistan. According to the Subsoil law, minerals in Uzbekistan are the property of the state, subject to rational use and protection by the state.
The report outlines Uzbek's governing bodies, governing laws, mine licenses, rights and obligations, key fiscal terms which includes Subsoil use tax, Excess profit tax, Bonus (Subscription and Commercial Exploration), Corporate Tax, Real property tax, Withholding tax, Depreciation, Losses Carried Forward and VAT.
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- The mining industry is Uzbekistan is governed by the State Committee of the Republic of Uzbekistan on Geology and Mineral Resources, The State Inspectorate for Supervision and the State Committee of the Republic of Uzbekistan for Nature Protection.
- The State Committee of the Republic of Uzbekistan for Nature Protection has been established by the Decree of the Presidium of Supreme Soviet of Uzbek SSR .
- The State Inspectorate for Supervision is overseen by the council of Ministers of the USSR formed by № 1048 of December16, 1947. On the basis of the Cabinet of Ministers of January 10, 1996 № 17 Gosgortechnadzor Uzbek SSR was renamed the State the State Committee of Uzbekistan.
- According to the law, minerals are the property of the State in Uzbekistan. The basic main of the law is to regulate the scope of the relationship when processing, using and disposing of subsoil.
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