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In March of this year, the previously approved proposed legislative changes will take effect, and in this article we will look at them in more detail:

• Excise tax on tobacco products has increased

According to the proposed addition to the flat rate the ad valorem rate of excise tax on cigarettes produced in the country is introduced, and thus, the combined tax rate will be 117900 soums/1000 units + 4%.

• Bureaucratic costs

As of March 1, 2019, individual entrepreneurs and legal entities whose founders are residents of Uzbekistan will have their bank accounts opened remotely at the time of registration.

State agencies do not have the right to demand that a business entity put a stamp on documents.

• "Legalization" of miners

On March 1, a new type of business activity will appear in Uzbekistan for both legal entities and individuals - individual entrepreneurs - like artisanal prospecting for precious metals. This activity is exempt from paying all taxes and other obligatory payments, except for the UST.

• Simplified visa regime for investors in the country

A special 3-year "investment visa" is introduced for foreign investors which may be extended without leaving the country. And also the foreigners who have invested in domestic production from $ 3 mln, get the residence permit on a simplified basis for 10 years.

• Nostrification of foreign diplomas

Since March 1, in most cases, the recognition and nostrification (establishment of equivalence) of educational documents issued abroad will be held directly, without special tests. You can read the original document here.

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