The law (Uzbekistan Law No. ЎРҚ-1059 dated 18.04.2025) introduced amendments and supplements to certain legislative documents. The Ministry of Justice reported this.
According to the amendments to the Tax Code introduced by the law, from September 1, 2024 to September 1, 2027, tax privileges that are set for members of the “Craftsman” association will also be applied to individual entrepreneurs who are engaged in the production of jewelry items and are members of the "Uzbekjewelryindustry" association.
In addition, immovable property objects and land plots used by these individual entrepreneurs in production will also be exempt from property and land taxes.
According to the addition to the law “On precious metals and precious stones”, refining enterprises were envisaged to have the following rights without undergoing additional authorization procedures:
- to realize precious metals to jewelers in convenient forms and volumes;
- to produce and realize commemorative coins made of precious metals.
In addition, jewelers were determined to have the right to realize semi-finished products made of precious metals to other jewelers.
In this case, the value of the realization of semi-finished products is to be independently determined by the jewelers not less than the London precious metals market association’s morning fixing price and the Central Bank's exchange rate on the day the calculation is made.
