Uzbek entrepreneurs, farmers ban from cashing out in foreign currency
Baku, Azerbaijan, Sept. 6
By Fakhri Vakilov - Trend:
Starting from Sept. 6, some individual entrepreneurs of Uzbekistan will not be able to withdraw cash in foreign currency from their bank accounts, Trend reports citing the press service of the Ministry of Justice of Uzbekistan.
The changes concern entrepreneurs who have not received the status of a legal entity. Moreover, farmers will not be able to withdraw cash from their bank accounts in foreign currency.
This applies even to those who receive income in the foreign country. Now they can cash out their accounts exclusively in Uzbek soums.
However, until today, they had the opportunity to withdraw funds in foreign currency.
Nevertheless, some of these entrepreneurs and farmers will still be allowed to cash in foreign currency. This is possible if the person plans to use the money abroad.
In addition, with regard to a number of entrepreneurs, a decision was made to write off their payables under foreign trade contracts. A decision concerns debts formed before September 5, 2017. With respect to such entrepreneurs, it is permitted not to charge tax liabilities on the debited amount payable.
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