posted 3 Aug 2017, 09:10 by Webmaster Ambasciata


President approves measures to improve tax system.. 1

Investments. 1

China to invest in Uzbek sericulture. 1

International cooperation.. 2

Meeting with experts of European Investment Bank. 2

Sport.. 2

Uzbek team: First awards proved gold. 2



President approves measures to improve tax system

President Shavkat Mirziyoev signed a Decree "On measures for radical improvement of tax administration, increase tax collection and other obligatory payments.

The Decree notes that the country has formed a tax system that provides a consistent reduction of the tax burden and creating a favourable climate for business development and attracting foreign investment.

However, certain problems in the field of tax administration, including tax collection and other obligatory payments, expanding the tax base and improving the legal culture of taxpayers have a negative impact on sustainable sources of financing of programs of socio-economic development of the country.

Objectives defined in the Action Strategy for 2017-2021 provide for the gradual simplification of the tax system, reducing the tax burden by expanding the tax base, the introduction of modern methods of tax administration, increasing the collection of tax and other obligatory payments. Following the above mentioned, the Decree has defined the below as the most important directions in the reforming of the state tax service:

first - widespread introduction of modern information and communication technologies and advanced automated analysis methods in the process of tax administration, a full transition to contactless electronic service for taxpayers, primarily businesses;

second – ensuring timely and accurate accounting of objects of taxation and the tax base, strengthening the responsibility of officials of the competent authorities and organizations for the timely provision of reliable information related to tax matters;

third – providing all-round assistance to taxpayers in fulfilling tax obligations, developing effective mechanisms of prevention of tax offences and increasing the legal culture of taxpayers, the introduction of modern methods of tax control;

fourth - implementation of effective measures to ensure the full inclusion of objects of taxation and expanding the tax base through a systematic analysis of the dynamics of macroeconomic variables and tax potential of regions;

fifth - expanding the tax base by providing comprehensive assistance in the restoration of non-functioning enterprises, improvement of the financial condition of low-margin and loss-making enterprises, strengthening the settlements, preventing the growth of tax arrears;

sixth - further expansion of cooperation with financial authorities, concerned ministries and departments and state authorities in tax matters, including by identifying additional reserves of increase in incomes of the Republican and local budgets.



China to invest in Uzbek sericulture

The Uzbekipaksanoat Association officials have met with representatives of Chinese companies, who intend to invest $276 million this year in the development of the silkworm industry in Uzbekistan.

The two sides discussed the issues of promotion of mutually beneficial cooperation in growing grains; cocoon processing, manufacture and exports of finished products. They reached an agreement on the supply of ten million saplings of mulberry tree of three varieties friendly to the climatic conditions of the republic this year, as well as up-to-date technologies for their cultivation.

Established by the Presidential Decree on March 29, 2017, the Uzbekipaksanoat Association is expected to boost the silkworm industry in the country and ensure the increase of the total share of silkworm cocoon processing to 50% by 2021.

As analysis shows, the production of silkworm grains is the weakest link in the country’s sericulture. The use of outmoded and obsolete equipment does not meet all the needs of the cocoon economies of the republic. 230-250,000 boxes are annually imported to cover the deficit of silkworm grains, which makes up 50% of demand of industry enterprises.

According to experts, the existing mulberry plantations are not used efficiently, and mulberry yields fall significantly in the winter period.

Strengthening and expansion of forage reserves, creation of silkworm cocoon complexes in the immediate vicinity of the mulberry plantations, importing of high-yielding (cold-resistant) mulberry seedlings that produce twice as much yield, will allow increasing the volume of cocoon harvesting by 35,000 tons (135%), and ensure the production of goods with high added value, including silk yarn and finished silk products.

It is expected that by 2021, the total share of silkworm cocoon processing volumes will be brought to 50%, paving the way to new jobs and an increase in foreign currency inflows through exports.

(Source: IA «Jahon»)

International cooperation

Meeting with experts of European Investment Bank

On July 19, 2017, the delegation of the Ministry of Foreign Affairs of the Republic of Uzbekistan held a meeting with the experts of the European Investment Bank (EIB) at the Bank’s headquarters in Luxembourg.

The parties discussed the draft of the Framework Agreement on the EIB activities in the territory of Uzbekistan.

During the conversation it was noted that substantial progress has been made in the text of the draft agreement as a result of the two teleconferences, that were held between the experts of the Bank and the competent agencies of Uzbekistan on the 10th and 12th of July, 2017.

At the meeting, the experts approved the draft and reached an agreement on completing the internal procedures for signing the above-mentioned document in the near future.

(Source: Press Service of the MFA of the Republic of Uzbekistan)


Uzbek team: First awards proved gold

The World Athletics Championships among Paralympics athletes is in progress in London. Uzbekistan is represented by seven athletes. The first awards in the stock of the national team were two gold medals.

The first award of the highest dignity was won by Husniddin Norbekov. In competitions on throwing a disk, he showed the result at the first attempt 54.73 m.

Recall, at the World Championship in Doha (Qatar) in 2015, Norbekov also won a gold medal with a score of 53.81 m. At the London Paralympics 2012 he set a world record with a score of 59.75 m.

Husniddin Norbekov said that he was pleased with the result, although he could have been better - the athlete expected to throw a disk further than 60 m. But he will still have a chance for a turn to reveal himself - on July 23 he will take part in the shot put contest.

Paralympics athlete Doniyor Saliev became the world champion in long jump and updated the Asian record. In the competitions he showed a result of 7.18 m.

“Five years ago I was here in a triple jump and took the seventh place. Now - the world champion”, - shared his impressions Doniyor. "It's hard to describe in words what I feel. My first world title is a very important achievement in my career, like the Asian record. I enjoyed every moment of the competition and even hoped for more - I expected to jump more than 7.20 m. This award belongs to my people, parents, my trainer, our President. I worked hard to achieve this goal.

(Source: «Uzbekistan Today» newspaper)


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