Senate simplifies order of re-registration of licenses and permissions

The law introduces changes and amendments to the laws “On licensing separate types of activities” and “On permission procedures in the sphere of entrepreneurship”, as well as other legislative acts.

The senators noted that simplification of licensing and permission procedures will help to develop business activities.

The law also introduces changes to concretize types of unfair competition, sets effective mechanism of regulation of relations on use (unused) of trademarks, realization of goods with illegal trademarks, etc.

The law also introduces amendments to laws “On foreign investments”, “On tax consultations”, Code of Uzbekistan on administrative responsibility and Tax Code.

The enterprises with foreign investments will have right to use rates of taxes and other mandatory payments, set on the date of registration within next five years.

The document also envisages measures on further improving legal framework of operation of tax consultants.