Uzbekistan To Reduce State Duty For Foreign Companies' Registration

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, February 23. Uzbekistan's law "On State Duty" reduces the rate of duty for registering a company with foreign investment 10 times - from 3.4 million to 340,000 soums (from $276 to $27), Trend reports.

Uzbekistan's president Shavkat Mirziyoyev signed a law amending legislation to harmonize it with the World Trade Organization agreements on February 15.

The draft law was passed by the lower chamber of Uzbekistan's Parliament in late December and received Senate approval in January. It affects advertising, trademarks and intellectual property, as well as state duties.

Also, the restriction on advertising of imported beer, natural and sparkling wines is canceled. The current version of the law "On Advertising" allows to promote only beer and wine of local producers under certain conditions.

Earlier, president of Uzbekistan Shavkat Mirziyoyev signed the Law "On Privatization of State Property". According to the law, the objects of privatization of state property are state-owned properties, state interests (shares, stakes), state unitary enterprises, and institutions.

State property may be fully or partially privatized, except for what is not subject to privatization under the legislation on state property management.

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