President of Uzbekistan Shavkat Mirziyoyev signed an order “On organizational measures to radically improve tax legislation”.

The document criticized current tax system and work carried out to increase income to the budgets, introducing new methods of tax administration, etc.

Uzbek leader formed the Republican Commission for preparation of the draft of the Tax Code of the Republic of Uzbekistan in new edition. The commission is headed by Prime Minister Abdulla Aripov.

Also, working groups have been set up to improve tax legislation and tax administration.

The President instructed the commission to prepare a draft Concept on improving the fiscal policy of the Republic of Uzbekistan by 1 April 2018, and the draft of the new Tax Code of the Republic of Uzbekistan by 1 July 2018.

Uzbek leader ordered the commission to study international norms and standards, as well as principles of market economy, revise tax administration mechanisms, simplify taxation system, etc.

The commission also should focus its efforts to decrease tax burden to enterprises, simplify calculation of income tax of individuals, etc.

It will also review preferences, provided for business entities, and make proposal to abolish ineffective ones.