Baku, Azerbaijan, Sept. 24
By Fikret Dolukhanov – Trend:
Uzbekistan will simplify the procedure for legislative definition and classification of small and medium-sized businesses from 2019, Uzbek media reported referring to the draft decree of the head of state.
In accordance with the proposal of the Ministry of Economy of Uzbekistan, which is the developer of the document, the definition of small and medium-sized businesses will include individual entrepreneurs; microfirms with an average annual number of employees of no more than 25 people; small enterprises with an average annual number of employees of no more than 100 people; as well as medium-sized enterprises with an average annual number of employees of no more than 250 people.
From Jan. 1, 2019, the country is also going to cancel a number of requirements for micro-firms in the area of accounting and financial reporting.
The document also provides that the State Tax Committee together with the Ministry for the Development of Information Technologies and Communications of Uzbekistan will develop and place a virtual tax consultant system on the Single Portal of Interactive Public Services.
The system will provide information on the tax regime in interactive mode, taking into account all tax and customs privileges and other preferences, depending on the organizational and legal form of the business entity, the region and industry of its activities, the expected investment volumes, the timing of investment projects, as well as the new jobs created.
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