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Uzbekistan to introduce a new form of entrepreneurial activity.

From 1 January 2018, Uzbekistan will introduce a new form of entrepreneurial activity.

The draft decree of the President “On measures on cardinal improvement of the system for supporting business development and improving business conditions” was published for discussion.

According to the document, from 1 January 2018, medium-sized enterprises with an average annual number of employees of no more than 500 people will be also subjects of entrepreneurship (business).

The document noted that medium-sized enterprises have the right to use a simplified taxation system in place of generally established taxes and payments if they pay a single tax payment at the rate 10 percent and a single social payment at a rate of 20 percent.

Source: UzDaily.com