Uzbekistan wants to legalize foreign trade intermediation

Uzbekistan plans to legalize foreign trade intermediation.

Tashkent, Uzbekistan (UzDaily.uz) —

The Ministry of Economy and Finance of Uzbekistan has proposed introducing a new type of foreign trade agreement—an intermediary contract. This document is intended to regulate financial transactions and the activities of intermediaries in e-commerce and international cargo transportation. A corresponding draft resolution has been submitted for public discussion, according to the Ministry of Economy and Finance of Uzbekistan.

The draft proposes amendments to the Regulation on the Control of Foreign Trade Operations. According to the proposed document, foreign trade intermediaries will be defined as persons organizing transactions on behalf of a third party based on agency, commission, or other intermediary agreements.

Legal entities that are residents of Uzbekistan, as well as individuals registered as sole proprietors, will be able to provide such services. As part of their intermediary transactions, they will have the right to make payments, accept funds, and transfer them to non-residents or other parties specified in the contract.

Funds received from third parties and intended for subsequent transfer to a person specified in an agency agreement are proposed to be classified as transit funds. Such funds will not be considered income for the intermediary. However, the intermediary may withhold remuneration for services rendered from them in accordance with the terms of the agreement.

The draft also establishes procedures for commercial banks to interact with such funds. The transfer of transit funds is proposed to be carried out based on an agency agreement. Moreover, the corresponding transactions will not be considered import or export for the intermediary and will not be taxed.

The explanatory note notes that these changes are aimed at eliminating legal conflicts that have arisen due to the active development of e-commerce and international transportation. In these areas, foreign trade transactions are increasingly conducted through electronic trading platforms, information intermediaries, agents, commission agents, and other elements of the digital infrastructure, bypassing traditional foreign trade agreements. Current regulations allow for exports through online platforms and the use of invoices, but do not define the procedure for reflecting intermediary agreements and transactions under them in the Customs Committee's E-kontrakt system.

According to the project's developers, this gap prevents information on intermediary agreements and transactions conducted under them from being entered into E-kontrakt. This creates administrative barriers when making payments to non-residents.

As an example, the document cites the activities of owners of electronic trading platforms—residents of Uzbekistan—who enter into intermediary agreements with non-residents for the listing and sale of goods. Current regulations do not allow for the transfer of proceeds from the sale of goods to a non-resident while simultaneously retaining the intermediary's commission.

Currently, marketplace owners must enter into an agreement for the import of services to transfer funds to non-residents.

In this case, they receive their commission only after the full amount has been transferred to the non-resident. The Ministry of Economy and Finance believes that this mechanism artificially inflates the volume of service imports, while in fact, services worth the commission fee are exported. Furthermore, this arrangement could create complications with regard to the taxation of transactions.

The proposed amendments provide for the recognition of intermediary contracts as a separate type of foreign trade agreement. They also propose using electronic transaction registries as supporting documents and simplifying settlements with non-residents.

Discussion of the draft resolution will last until August 30, 2026.