Ministry of Economy and Finance of the Republic of Uzbekistan jointly with Tax Committee under the Cabinet of Ministers of the Republic of Uzbekistan published the Information message on provision of financial and tax reporting according to international financial reporting standards for 2023.
According to the Law “On Accounting” economic entities keep accounting records and prepare financial statements in accordance with accounting standards, while the requirements for financial statements prepared in accordance with international standards are determined by the International Financial Reporting Standards (hereinafter - IFRS). Financial Reporting Standards (hereinafter - IFRS).
The Decree of the President of the Republic of Uzbekistan from February 24, 2020 № PP-4611 “On additional measures on transition to international financial reporting standards” provides that joint stock companies, commercial banks, insurance organizations and legal entities classified as to large taxpayers (hereinafter - organizations) from January 1, 2021 organize bookkeeping and, starting from January 1, 2021, prepare financial statements on the basis of IFRS. financial statements on the basis of IFRS, with the exception of legal entities for which the legislation provides for an earlier deadline. for which the legislation provides for an earlier date of transition to IFRS.
Business entities that voluntarily prepare financial statements in accordance with IFRS are exempt from the IFRS financial reporting requirements. Entities that voluntarily prepare financial statements in accordance with IFRS are exempt from presenting financial statements in accordance with the National Accounting Standards (NAS). National Accounting Standards (NAS).
Organizations keep accounting records and prepare financial statements on the basis of IFRS and explanations to them, the texts of which are recognized for application in the territory of the Republic of Uzbekistan (reg. № 3400 from 09.12.2022).
In accordance with IFRS 1 “First-time Adoption of International Financial Reporting Standards” (Reg. No. 3400 dated 09.12.2022, 27-appendix) the organization should prepare an introductory statement of IFRS financial position as at the date of transition to IFRS, which is the starting point for IFRS accounting. Thus, the date of transition to IFRS is the beginning of the earliest period for which an entity will present full comparative information under IFRS in its first financial statements.
The full set of IFRS financial statements and general aspects of their presentation are defined by IAS (IAS) 1 “Presentation of Financial Statements” (Reg. No. 3400 dated 09.12.2022, 2-Annex), providing for the provision of a full set of annual financial statements for 2 reporting dates for the minimum required comparative information.
Учитывая вышеизложенное, организации, составляющие финансовую отчетность по МСФО, раскрывают в годовой финансовой отчетности информацию на основе МСБУ (IАS) 1 «Представление финансовой отчетности» (рег. № 3400 от 09.12.2022 г., 2-приложение), а также составляют формы налоговой отчетности по показателям, необходимым для исчисления налогов юридических лиц, перешедших на МСФО (рег. № 3221-1 от 20.10.2020г.) и представляют по итогам 2023 года данные отчеты не позднее 1 июня 2024 года.
Организации, впервые применяющие МСФО, у которых дата перехода на МСФО определена 1 января 2024 года, в том числе юридические лица, отнесенные с 1 октября 2023 года к крупным налогоплательщикам, предоставляют:
– по итогам 2023 года – финансовую отчетность на основе НСБУ;
– по итогам 2025 года – первый полный комплект финансовой отчетности по МСФО, включающий сравнительную информацию годовой финансовой
отчетности по итогам 2024 года.
Обязательная аудиторская проверка финансовой отчетности данных организаций, включающей сравнительную информацию, проводится аудиторскими организациями согласно законодательству об аудиторской деятельности и Международным стандартам аудита.
