Measures for Regulating Cash Foreign Currency Transactions in the Republic

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30.04.2021

20.03.1998

24.10.1996

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Document lost its force 30.04.2021

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OKOZ:
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07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.27.00.00 Regulation of Currency and Currency Control / 07.27.01.00 General Rules;
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07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.27.00.00 Regulation of Currency and Currency Control / 07.27.04.00 Settlements and Payments in Foreign Currency;
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07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.27.00.00 Regulation of Currency and Currency Control / 07.27.09.00 Currency Control]
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Finance / Currency Regulation. Precious Metals (Stones)] Send suggestions for the document Listen to audio Get a link from the document element Send suggestions for the document Listen to audio Get a link from the document element Send suggestions for the document Listen to audio Get a link from the document element Decree of the President of the Republic of Uzbekistan Send suggestions for the document Listen to audio Get a link from the document element ON MEASURES FOR REGULATING CASH FOREIGN CURRENCY TRANSACTIONS IN THE REPUBLIC Send suggestions for the document Listen to audio Get a link from the document element [Copy] Send suggestions for the document Listen to audio Get a link from the document element LexUZ commentary This Decree has lost its force on the basis of the Decree of the President of the Republic of Uzbekistan dated April 30, 2021, No. PF-6218 "On Comprehensive Systematization Measures for the National Legislative Base". Send suggestions for the document Listen to audio Get a link from the document element A network of authorized banks has been established, which promptly carries out settlements and services in freely convertible currencies, ensures the timely transfer of currency funds belonging to foreign and domestic legal and physical persons to the Republic of Uzbekistan. Send suggestions for the document Listen to audio Get a link from the document element At the same time, inspections have shown that the laws governing currency regulation in the Republic are being seriously violated. Accordingly, the national currency - the sum - is considered the sole legal tender within the territory of the Republic of Uzbekistan, and settlements and payments in foreign currency, including in cash, are prohibited. Liability, including criminal liability, is envisaged for violating this procedure. Send suggestions for the document Listen to audio Get a link from the document element In order to evade taxation on income obtained from the illegal sale of foreign citizens bringing in large amounts of cash foreign currency and using it in settlements in an unregulated market, situations have arisen that have a negative impact on confidence in the national currency. Send suggestions for the document Listen to audio Get a link from the document element In order to put an end to such violations of rules and to ensure strict compliance with the Republic's laws on currency regulation:
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1. Enterprises and organizations, other legal and physical persons - residents and non-residents of the Republic of Uzbekistan - must strictly follow the established procedure in the Republic, according to which the national currency - the sum - is the sole legal tender within the territory of the Republic of Uzbekistan, and keep in mind that liability, including criminal liability, is envisaged for violating this procedure.
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2. It is established that legal persons are not allowed to import and export cash foreign currency, and authorized banks may do so only if they have prior permission from the Central Bank of the Republic of Uzbekistan.
   See previous edition.
   (Para 3 was repealed by the Decree of the President of the Republic of Uzbekistan dated March 20, 1998, No. PF-1979 - Information Bulletin of the Oliy Majlis of the Republic of Uzbekistan, 1998, No. 4, Article 60) Send suggestions for the document Listen to audio Get a link from the document element
3. It is strictly prohibited for legal and physical persons, residents and non-residents, including enterprises with foreign investment participation, within the territory of the Republic of Uzbekistan to carry out settlements and payments in cash foreign currency for all types of works and services, including salaries and payments equivalent to them.
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   It is established that these payments may be made in the national currency of the Republic of Uzbekistan in cash, as well as by transferring sums to the corresponding accounts in commercial banks of the Republic. For non-residents, payments may be made using the above-mentioned payment forms, as well as by transferring foreign currency to their currency accounts outside the territory of the Republic of Uzbekistan. Send suggestions for the document Listen to audio Get a link from the document element The heads of all enterprises and organizations of all forms of ownership shall be personally responsible for the execution of this paragraph of the Decree. It is warned that in case of violation thereof, legal liability envisaged by legislation will be applied to them. Send suggestions for the document Listen to audio Get a link from the document element
4. The Ministry of Foreign Affairs and the Ministry of Foreign Economic Relations of the Republic of Uzbekistan shall work with embassies of foreign states, as well as representative offices of foreign firms, companies, and international organizations, regarding the payment of remuneration in national currency for all types of works and services for their employees who are residents of the Republic of Uzbekistan, as well as regarding the import and export of foreign currency.
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5. The Central Bank of the Republic of Uzbekistan, authorized banks, together with the "Uzavtosanoat" association, "Uzbekistan Airways" National Aviation Company, "Uzbekistan Tourism" association, and other interested organizations, shall ensure the expansion of the scope of use of plastic settlement cards, the sale of goods via receipts, and the introduction of other forms of non-cash settlements for goods and services.
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6. The Main Customs Administration of the State Tax Committee of the Republic of Uzbekistan shall submit proposals to the Cabinet of Ministers within two weeks regarding the opening of additional customs posts at railway, automobile, aviation, and river transport crossing points of the customs border.
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7. The Ministry of Justice of the Republic of Uzbekistan, together with the relevant ministries and departments, shall submit proposals to the established procedure within one month on bringing legislation into line with the rules of this Decree.
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8. Control over the implementation of this Decree shall be entrusted to the Deputy Prime Minister of the Republic of Uzbekistan B.S. Hamidov, the Chairman of the Board of the Central Bank F.M. Mullažonov, and the Minister of Foreign Affairs A.H. Komilov.
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   President of the Republic of Uzbekistan I. KARIMOV Send suggestions for the document Listen to audio Get a link from the document element Tashkent city, Send suggestions for the document Listen to audio Get a link from the document element October 24, 1996, Send suggestions for the document Listen to audio Get a link from the document element No. PF-1601 (Information Bulletin of the Oliy Majlis of the Republic of Uzbekistan, 1996, No. 10, Article 191; 1998, No. 4, Article 60)