President names main problems in entrepreneurial activity

On July 27, the President signed a Decree "On measures to further improve the system of protection of the rights and legitimate interests of business entities".

Large-scale reforms to ensure the smooth implementation of business activities, creating favorable conditions for doing business and increasing the investment attractiveness of the Republic are underway in the Republic, according to the document.

At the same time, a number of systemic problems still remain in the sphere of business activity, the solution of which would allow to eliminate the existing obstacles to business development, attract foreign investment to the country and ensure guaranteed protection of the rights and legitimate interests of entrepreneurs. In particular:

first, the adopted Concept of improving the tax policy of the Republic of Uzbekistan, aimed at establishing a reliable partnership between regulatory authorities and bona fide business entities requires a fundamental review of the current system of inspections, other types of state control, as well as the procedure for collecting tax and other mandatory payments;

second, debts on tax and other obligatory payments, penalties and financial sanctions are accumulated artificially, which are formed due to the presence in the legislation of certain legal mechanisms that do not meet modern requirements;

third, there are ineffective and excessive control functions of state bodies, leading to violations of the rights and legitimate interests of business entities;

fourth, there is no comprehensive regulation of organizational and procedural aspects of inspections of business entities and a single integrated system of monitoring of their legality, which puts obstacles in ensuring transparency of supervisory authorities and objectively assessing the validity of the inspections;

fifth, absence of a system of independent public control over the activities of regulatory bodies, ensuring the openness, transparency and impartiality of inspections;

sixth, the shortcomings of the current mechanism of compensation to individuals and legal entities of losses associated with the seizure of land for state and public needs with the demolition of real estate, lead to violations of their rights and legitimate interests, undermine the trust of businesses to the state, and reduce the investment attractiveness of the country.

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