Uzbekistan amends legislation in entrepreneurship sphere
08/10/2013 14:00
Uzbekistan amends legislation in entrepreneurship sphere
08/10/2013 14:00
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan introduced changes and amendments to the legislation, regulating activities of entrepreneurship and farm entities.
President of Uzbekistan Islam Karimov signed a law “On introduction of changes and amendments, as well as abolishment of some legislative acts of Uzbekistan”.
The document introduced changes to the law “On guarantee of freedom of entrepreneurship activities”, Customs Code of Uzbekistan, law “On farm entities” and other legislative acts.
In line with the amendments to the law “On guarantee of freedom of entrepreneurship activities”, all unavoidable contradictions and ambiguities of law, arising in connection with business activities, shall be interpreted in favor of business entities.
Article 7-1 “Principle of the priority of the business entity” was included to the Customs Code of Uzbekistan. According to the article, all unavoidable contradictions and ambiguities of customs law, arising in connection with business activities, shall be interpreted in favor of business entities.
In line with changes to law “On farm entities”, farms now have right to carry out any type of agriculture production, as well as processing, storing and realizing of agriculture products, industrial production, rendering services and other activities, which are not banned with the legislation.
The document also introduced changes to law “On guarantee of freedom of entrepreneurship activities”. According to amendments, planned financial-economic activities of private banks and other private financial institutions should not be carried out more than once in five years, small businesses and farm entities – once in four years and other business entities – once in three year. The corresponding changes were also included to Tax Code of Uzbekistan.
The law also set responsibility for violation of legislation on competition. According to the amendments to law “On competition”, businesses and persons, who violated legislation on competition, which can lead to limitation of competition, violate rules of merger or acquisition, provision of false information, etc.
The organizations and persons, who violated legislation on competition and punished in line with the legislation, should eliminate violations in line with the order of anti-monopoly body.
The law said that the persons, who voluntary report about deal or other moves directed at limiting competition or other violation of competition laws, will not be punished.
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