On October 6, the President Shavkat Mirziyoyev signed the Measures to further stimulate exploration and improve taxation procedure for subsoil users Decree.

According to the Decree, from October 1, 2021, the excise tax rate for natural gas exports will be zeroed (it was 20%). From the same date, when importing natural gas into Uzbekistan, legal entities shall be exempt from customs duties.

In addition, the Decree instructed to submit by December 1 to the Cabinet of Ministers draft amendments to the Tax Code, providing from January 1, 2022:

• reduction of for subsoil use tax rates for oil and natural gas to 10%, gold and copper - to 7%, tungsten - to 2.7%, uranium - to 8%. At the same time, for enterprises with a state share engaged in the production of hydrocarbons, precious, non-ferrous, rare and radioactive metals, as well as within the framework of production sharing agreements (unless a different procedure is provided for by agreements and treaties that entered into force before September 1), the president may establish increased tax rates for the use of subsoil;
• introduction of a tax on rental income for subsoil users engaged in the production (extraction) of oil, natural gas, gas condensate, precious, non-ferrous, rare and radioactive metals in new fields, taking into account the capital expenditures of subsoil users;
• exemption from property tax for legal entities of new oil and gas wells in the first two years, starting from the month of their commissioning, in the next three years - the application of the property tax rate for legal entities, reduced by 50% of the established tax rate;
• improvement of the procedure for calculating the use of subsoil tax, taking into account the best foreign experience and the involvement of experts. At the same time, when calculating the tax for the use of subsoil in the extraction of oil, natural gas and certain types of minerals in the period from January 1 to December 31, 2021, the tax base is reduced by the amount of costs associated with their transportation and processing;
• unification of tax rates for the use of subsoil for non-metallic minerals;
• granting the right to conduct tax accounting in US dollars for foreign-invested enterprises - taxpayers of tax on rental income.