Uzbekistan Doing Business 2020

Extent of ownership and control index (0-7)
7.0
Uzbekistan
Doing Business 2020
Page 38

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Is it forbidden to appoint the same individual as CEO and chairperson of the board of directors?
Yes
1.0
Must the board of directors include independent and nonexecutive board members?
Yes
1.0
Can shareholders remove members of the board of directors without cause before the end of their term?
Yes
1.0
Must the board of directors include a separate audit committee exclusively comprising board members?
Yes
1.0
Must a potential acquirer make a tender offer to all shareholders upon acquiring 50% of Buyer?
Yes
1.0
Must Buyer pay declared dividends within a maximum period set by law?
Yes
1.0
Is a subsidiary prohibited from acquiring shares issued by its parent company?
Yes
1.0
Extent of corporate transparency index (0-7)
6.0
Must Buyer disclose direct and indirect beneficial ownership stakes representing 5%?
No
0.0
Must Buyer disclose information about board members’ primary employment and directorships in other
companies?
Yes
1.0
Must Buyer disclose the compensation of individual managers?
Yes
1.0
Must a detailed notice of general meeting be sent 21 days before the meeting?
Yes
1.0
Can shareholders representing 5% of Buyer’s share capital put items on the general meeting agenda?
Yes
1.0
Must Buyer's annual financial statements be audited by an external auditor?
Yes
1.0
Must Buyer disclose its audit reports to the public?
Yes
1.0
Uzbekistan
Doing Business 2020
Page 39

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Paying Taxes
This topic records the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as the administrative burden of
paying taxes and contributions and complying with postfiling procedures (VAT refund and tax audit). The most recent round of data collection for the project was
completed in May 2019 covering for the Paying Taxes indicator calendar year 2018 (January 1, 2018 – December 31, 2018).
See the methodology for more information
.