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Development of alternative construction technologies
The social tax rate for trade and service businesses is to be extended
Uzbekistan to introduce a fee for international courier parcels
Another training course was delivered
Over-the-counter drug prices will not be regulated
Starting from April 1 of this year, price restrictions on over-the-counter drugs and medical devices will be abolished in the Republic. However, these restrictions will remain for prescription drugs. Today the maximum markup for over-the-counter drugs is 15% for distributors and 20% for pharmacies. However, due to the established markup, illegal importation of medicines may increase, and after the abolition of VAT benefits, its share in the market may grow even more. In this regard, the Decree of the President of the Republic of Uzbekistan “On Additional Measures for Accelerated Development of the Pharmaceutical Industry” No. PF-13 dated 28.01.2025 abolishes all price restrictions on over-the-counter drugs and medical devices.
The law on limiting the number of guaranteed deposits was approved
The Law “On Guarantees of Protection of Deposits in Banks” provides for the payment of compensation by the Deposit Guarantee Agency in the event of a guaranteed event, with the amount of compensation for one depositor in one bank being the full amount of the balance of the object of guarantee, if its size is 200 million sums or less. The law provides for a gradual reduction of the period of compensation payment by the agency in case of bank liquidation to 7 working days. Thus, the payment of compensation is carried out from January 1, 2025, within 20 working days, from January 1, 2026 - within 15 working days, from January 1, 2027 - within 7 working days. In case of bankruptcy of a bank, the agency reimburses depositors' funds, and the depositors' right of claim against the bank is transferred to the agency.
Social network X could be fined more than $100 million
The European Commission may fine the social network X more than $100 million. The potential fine is about 6% of the company's annual turnover, equivalent to at least $100 million. At the same time, the final decision on the imposition of the fine has not yet been made. The investigation began in December 2023, when the European Commission suspected the social network of violating the Digital Services Act. According to the Commission, the company's advertising rules lacked transparency and misled users by selling verified account status.
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