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Finance
26/12/2012
Uzbek President inks amendments to some laws
Uzbek President inks amendments to some laws
Tashkent, Uzbekistan (UzDaily.com) --
President of Uzbekistan Islam Karimov signed a law “On introduction of amendments and additions to some legislative acts of the Republic of Uzbekistan in connection with the adoption of key tax and budget policy for 2013, as well as reducing the frequency of tax filing” on 25 December 2012.
Legislative Chamber passed the law on 28 November 2012 and the Senate approved it on 6 December 2012. It comes into force on 1 January 2013.
The law has been prepared in accordance with the concept of tax policy in 2013, and the Decree of the President of the Republic of Uzbekistan "On measures to drastically reduce the statistical, tax, financial reporting, licensed activities and permissive procedures" from 16 July 2012 and "On Measures to further radical improvement of the business environment and to provide greater freedom of entrepreneurship" from 18 July 2012.
The law will create favorable conditions for business activity by reducing and simplifying reporting and the presentation order, improving tax administration and further reducing tax burden on businesses.
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