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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of September 4, 2023 No. PP-292

About measures for realization of the tasks determined in open dialogue of 2023 of the President of the Republic of Uzbekistan with entrepreneurs

(as amended of the Presidential decree of the Republic of Uzbekistan of 30.08.2024 No. UP-132)

As a result of the open dialogues of the President of the Republic of Uzbekistan with entrepreneurs which are carried out for last two years many system problems in the field of entrepreneurship are solved, in particular consecutive work on business simplification, decrease in the tax load, creation of convenient system of financing and infrastructure for implementation of new projects, and also to providing the property right is carried out.

The system of targeted support of entrepreneurship by separation of subjects of entrepreneurship into categories micro, small, average and large, areas and the cities - on 5 categories is adjusted.

For the purpose of implementation of the offers and initiatives directed to the solution of the system issues touched in about 6 thousand addresses which arrived from entrepreneurs within open dialogue of the President of the Republic of Uzbekistan with entrepreneurs who took place on August 18 the current year, and also execution of the priority tasks determined in open dialogue:

1. Approve "Road map" on realization of the tasks determined in open dialogue of 2023 of the President of the Republic of Uzbekistan with entrepreneurs (further - "Road map"), according to appendix No. 1 *, including the following directions:

* Appendix No. 1 is given in Uzbek.

creation of new opportunities for small business;

transformation of medium business in the guarantor of sustained economic growth;

occurrence on the new markets with high-quality and competitive products;

increase in number of the high-profit companies;

creation of the simplified tax administration and the favorable circle, free from bureaucracy.

2. Create National Business Development Bank joint stock bank (further - National Business Development Bank) based on Kishlok Kurilish Bank joint stock bank and to direct its activities in priority procedure to financing of projects of subjects of small business and rendering complex services to them.

3. Form under National Business Development Bank:

the "Fund of Development of Small Business" limited liability company enabling the realization of perspective projects of small business by attraction of financial resources of the international financial institutions and private investments;

14 centers of assistance to small business in the Republic of Karakalpakstan, areas and city of Tashkent responsible for assistance to development, financing and involvement of business projects of small business entities, and also rendering consulting services to them.

4. Determine that, for the purpose of extension of projects of the subjects of entrepreneurship which adjusted the activities within programs of family entrepreneurship, and also involvement of new projects of small business:

The National Business Development Bank together with authorized banks allocates the credits for up to 7 years on profitable terms for projects of small business;

in case of allocation of the credits for expansion of activities of the subjects of entrepreneurship having positive credit and tax history, and also realizing projects with assistance of the centers of assistance to small business, the requirement to pledge decreases by 50 percent.

5. Approve the offer of the Ministry of investments, the industry and trade, Chamber of Commerce and Industry on realization in industries of the 140 front lines of industrial enterprises program.

6. Establish procedure according to which at the expense of Fund of development of the industry:

a) for financing of projects of the subjects of entrepreneurship included in the 140 front lines of industrial enterprises program borrowing facilities in foreign currency at the rate 4 annual interest rates, in national currency - at the rate of 10 annual interest rates for up to 10 years are allocated;

b) are allocated for the industrial projects directed to production of new types of high-technology products and expansion of the available capacities:

borrowing facilities in foreign currency at the rate of 5 annual interest rates, in national currency - at the rate of 10 annual interest rates for up to 10 years;

borrowing facilities on replenishment of current assets in foreign currency at the rate 4 annual interest rates, in national currency - at the rate of 10 annual interest rates for up to 1 year.

7. To the ministry of investments, industry and trade in two-month time to start the electronic platform providing digitalization of implementation processes of the 140 front lines of industrial enterprises program, in particular with possibility of the offer on the basis of open tender to subjects of entrepreneurship of the industrial projects included in this program.

8. Determine that:

a) in case of compensation (return) of negative tax amount on value added practice of application of coefficient of tax gap (tax gap) is forbidden;

b) the procedure for suspension of action of the certificate on passing of special registration on the value added tax is cancelled (except as specified discrepancies of the performed transactions (transactions) to the nomenclature of the purchased and implementable goods (services);

c) the extreme size of the income of subjects of entrepreneurship which shall pay monthly advance payments on the income tax increases from 5 billion sum to 10 billion sum;

d) since January 1, 2024:

the cases with participation of tax authorities considered by economic courts are transferred to jurisdiction of administrative courts;

the term of limitation period on the tax liability is reduced from five to three years.

9. Prohibit when conducting cameral tax audit (except for the cameral tax audits which are carried out in case of compensation (return) of tax amount on value added):

access to the territory of the taxpayer;

survey of the territory and rooms of the taxpayer;

reclamation of documents at the taxpayer and his challenge;

seizure of documents and objects of the taxpayer.

10. Determine that since January 1, 2024:

in case of decision of court about debt collection on the credits, the allocated population and subjects of entrepreneurship, charge of percent and penalty on these credits stops;

the procedure providing in case of insufficiency of the amount of payment for accomplishment of credit obligations the direction of funds first of all for proportional repayment of unsettled principal debt and debt on percent at second priority - the percent added on the current payment and principal debt, in the subsequent queues - penalties and expenses on execution is established.

11. Approve offers of Public council on support of entrepreneurship for the President of the Republic of Uzbekistan (further - Public council):

about updating of structure of Public council according to appendix No. 2;

about holding meetings of Public council once a month suffices;

about carrying out discussion on Public council of drafts of the regulatory legal acts regulating business activity before conducting their legal examination by the Ministry of Justice.

12. To Council of Ministers of the Republic of Karakalpakstan, the Ministry of investments, industry and trade, Chamber of Commerce and Industry to bring in the Cabinet of Ministers:

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