A bill on business support and water conservation has been adopted in Uzbekistan
The bill provides for tax incentives for entrepreneurs, the development of manufacturing and services, as well as the encouragement of the rational use of water resources.
Uzbekistan approves bill on business support and water conservation
The Legislative Chamber of the Oliy Majlis of Uzbekistan has passed in the third reading a bill aimed at supporting entrepreneurship and the rational use of water resources.
The document has now been sent to the Senate for consideration.
The bill provides for measures to support business entities, establish equal conditions and a fair competitive environment in the market, simplify the application of tax incentives, strengthen social protection of the population, and increase its income.
Special attention in the document is paid to encouraging the rational use of water resources. It also incorporates provisions on granting tax incentives to entrepreneurs, developing manufacturing and the service sector, as well as boosting business activity in the regions.
According to MPs, the adoption of the bill will make it possible to increase the efficiency of the benefits provided for businesses, ensure legal certainty in tax relations, and create favorable conditions for entrepreneurial activity in the regions.
The bill passed its third reading and must now be considered by the Senate of the Oliy Majlis.