The document was developed in order to execute decree of the President of Uzbekistan “On measures on cardinal decreasing statistics, tax and financial reporting, licensing types of activities and permission procedures” from 16 July 2012.

The decree was adopted for cardinal improvement of business environment, creation of favourable conditions for business entities due to liquidation of red tape, decreasing and improving licensing and permission procedures, improving system of reporting and submission procedures, etc.

The decree, in particular, envisages decreasing number of statistic, financial, tax and other types of reports via abolishing and uniting some of them, as well as periodicity of submission. The draft law will amend the law “On accounting” to reflect these changes.

The draft law also abolishes permission to launch of objects, permission for storing industrial and domestic waste, permission to realize cultural heritage, permission to liquidate insurance company, etc.

The document will introduces changes and amendments to laws “On nature protection”, “On insurance activity”, “On securities market” and other legislative acts.