Tashkent, Uzbekistan (UzDaily.com) -- At the forty-eighth plenary meeting of the Senate, along with the approval of the State Budget for 2024, the Law “On amendments and additions to certain legislative acts of the Republic of Uzbekistan in connection with the adoption of the main directions of tax and budget policy for 2024” was adopted.

It was noted that this Law defines the main directions of tax policy for 2024, providing for increasing the competitiveness of domestic producers, improving the procedure for taxing self-employed persons, ensuring the continuity of the value-added tax chain, the effective and rational use of natural resources, indexing tax rates established in absolute amounts based on the expected inflation rate.

In order to compensate for the damage caused by heavy vehicles when they use roads at the republican and local level due to their unsuitability, a fee is being introduced for the right to move trucks and trailers with a carrying capacity of more than 10 tons along highways.

In order to simplify doing business, the periods for storing tax reports and filing claims for tax obligations are being reduced and are set to three years instead of five years.

In order to create convenience for taxpayers, so as not to require unnecessary documents and reduce their time and money costs, the power of tax authorities to request documents from taxpayers (tax agent) is abolished.

In order to create equal conditions for foreign and domestic entrepreneurs, it is established that foreign legal entities, as well as individuals registered as entrepreneurs in accordance with the legislation of a foreign state and carrying out entrepreneurial activities, selling goods (services) on the territory of the Republic of Uzbekistan, if the place of sale such goods (services) are recognized by the Republic of Uzbekistan and are taxpayers of value added tax.

The law provides that self-employed persons pay tax on income received as a result of labor activity or from the sale of goods (services), in the manner established for individual entrepreneurs, from the day they exceed one hundred million soums during the tax period.

At the meeting, special attention was paid to the changes and additions introduced by the Law, and it was noted that in order to protect against the harmful effects of waste generated after the end of the service life of pneumatic rubber tires and tires, the laws of the Republic of Uzbekistan “On Nature Protection” and “On Waste” provide introduction of a recycling fee from 1 July 2024.

During the discussion, senators noted that the Law serves the development of entrepreneurship, protection of public health and the environment, rational use of natural resources, and elimination of environmental problems.

At the end of the discussion, the Law was approved by the senators.