The document is directed at further improving business climate, liberalizing and speeding up market reforms in Uzbekistan.

The document set that rights of entrepreneurs will be prioritized at their interaction with the state bodies, law enforcement and controlling bodies, as well as commercial banks. In line with it, all contradictions and vague at the legal documents will be interpreted for benefit of the businesses.

The decree said that the commercial banks of Uzbekistan should consider applications of the small businesses for loans within the three banking days.

Cheques of POS-terminals, issued for payments with use of corporate banking cards by trade and services points, are now leveled with preliminary accounting documents.

Small and private businesses received right to submit cash at the size of 20 minimum salary set in Uzbekistan, received from sales, to banking establishments themselves.

Microfirms and small businesses are exempted from mandatory sale of 50% hard currency revenue, received from export of goods or services of own production.

According to the decree, Markazsanoateksport will create special foreign trade company Uztadbirkoreksport, which will specialized in export of products of small businesses. The company will be created by the end of 2011 and it will have branches in all regions of Uzbekistan.

President Islam Karimov entrusted the Government to submit to Legislative Chamber a draft laws on introduction of changes and amendments to legislation, which envisage abolishment financial sanctions, which are not related to payment of taxes and other mandatory payments, against legal entities and increase administrative punishment for repeated legislation violence twice, limit terms of customs control o three years, as well as ban re-calculation of customs payments after a year past from customs clearance of goods.

In line with the decree, the commercial banks will not charge small businesses for opening account in national currency from 1 September 2011.

From 1 October 2011, the size of penalty fee for violation of terms of tax, customs duties and fees, as well as other mandatory payments will be decreased by one third from current rates.

From 1 October 2011, legal entities will have right to pay re-calculated taxes and mandatory payments in equal installments within the six months after the corresponding decision was adopted.

Starting from 1 January 2012, the single tax payment rate for microfirms and small business in industry will be cut from 6% to 5%.

Uzbek President Islam Karimov entrusted state bodies to transfer small businesses stage-by-stage to transfer tax and statistic reports in electronic form by the end of 2014.

Till 1 January 2016, business entities were exempted from payment of customs payments (except registration fee) for imported spare parts and components for equipment in line with the list, approved by the Cabinet of Ministers.

Uzbek President Islam Karimov entrusted state bodies to eliminate red-tape and barriers, hindering development of small businesses, and decrease state management functions and provide more freedom to businesses.

The state bodies were also entrusted to simplify various permission norms and limitation procedures, carried out by the state bodies.

They also should ensure transparency and openness in interactions of businesses with the state bodies, controlling bodies and commercial banks, as well as simplify tax and statistic reporting system with moving to electronic system stage-by-stage.

State bodies should also provide additional preferences and benefits on tax, customs and other payments to small businesses, directed at speeding up development and increasing efficiency of entrepreneurship activity.

Uzbek head called to create favourable conditions for businesses to carry out foreign economic activity and simplify registration of export contracts, as well as customs administration as a whole.