MPs discuss development of farms
18/06/2013 15:18
MPs discuss development of farms
18/06/2013 15:18
Tashkent, Uzbekistan (UzDaily.com) -- Committee of the Legislative Chamber of Oliy Majlis of Uzbekistan on agriculture and water management held a roundtable dedicated to discussion of the draft law “On introduction of changes and amendments to some legislative acts of Uzbekistan in connection with further improving organization of farms’ activates and development of farming” on 17 June.
MPs, representatives of ministries and departments, experts, farmers and others participated at the roundtable.
The roundtable was dedicated to discuss draft law, which was developed in line with the presidential decree “On measures on further improving organization of farming activities and developing farming in Uzbekistan”. The document is directed at creating conditions for developing farms, ensuring their financial sustainability, boosting activities of farms in modernization of rural areas.
The draft law introduces amendments to laws “On farm entities”, “On dehkan entities”, Tax Code of Uzbekistan. The document will introduce amendments directed to expanding opportunities for forming charter capital of the farm entities. The charter capital can include property, equipment and money resources.
According to the experts, this will help to increase financial assets of the farms and strengthen their material-technical base due to increasing turnover funds, credits, etc.
The article 32 of the law “On farm entities” sets bases for liquidation of farms. It also clearly sets issues related to formation of the charter capital.
The amendments to Tax Code of Uzbekistan will provide tax preferences to farms, which introduced trickle irrigation. They will not pay single land tax for five years. Individuals, who participated in cotton-picking, will be exempted from income tax during the season.
At the roundtable, the participants made several proposals and recommendations, directed at further improving the draft law.
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