The main directions of state regulation and support of entrepreneurship in the economic sectors of the republic of uzbekistan

THE MAIN DIRECTIONS OF STATE REGULATION AND SUPPORT OF ENTREPRENEURSHIP IN THE ECONOMIC SECTORS OF THE REPUBLIC OF UZBEKISTAN
Docent J.Kh.Rashidov
Masters’ degree student: Kh.Kh. Reimberganov
Tashkent State University of Economics
Annotation. This article discusses the legal foundations of state regulation and support of entrepreneurship in the sectors of the economy of the Republic of Uzbekistan.

The measures taken to ensure macroeconomic stability in the Republic of Uzbekistan, liberalization of the foreign exchange market, support and promotion of entrepreneurship in economic sectors have created favorable conditions for the active involvement of large segments of the population in entrepreneurial activity and created a solid basis for the consistent continuation of economic reforms.

As a result of reforms in the Republic of Uzbekistan over the past period, a solid legal framework has been created to protect the rights and legitimate interests of private owners, modern interactive forms of public services which are without direct communication have been introduced, systematic dialogue between the state and entrepreneurs has been established, guarantees have been created, reliable legal guarantees have been created for the rapid development of entrepreneurship.
At the current stage of development of the republic, it is necessary to reconsider and improve the existing approaches to support the development of small business and entrepreneurship, to create a new system of protection of the rights and legitimate interests of business entities.
A number of issues related to the activities of business entities: including the intervention of territorial regulators, the procedure for collecting taxes and other mandatory payments, the artificial collection of debts on fines and financial penalties, the independence of regulators to ensure openness, transparency and impartiality of inspections the lack of control system has had a negative impact on the efficiency of business entities.
In order to eliminate the above-mentioned problems, state regulation of entrepreneurship in the economy of the country and further support of entrepreneurial activity, a number of normative and legal acts are being developed and put into practice. In particular, the Decree of the President of the Republic of Uzbekistan dated July 27, 2018 No PF-5490 "On measures to further improve the system of protection of the rights and legitimate interests of business entities" serves as an important factor in eliminating unnecessary inspections of business entities. The decree clearly states the following:

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  The initiative for the verification of the activities of business entities is carried out on the basis of the results of the "risk analysis" system, which provides for the initiation of an investigation, arising from the level of risk of committing a violation by the relevant business entities;
  
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  All inspections carried out by regulatory authorities in the activities of business entities must be registered in the "Single system of electronic registration of inspections";
  
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  Inspections of business entities not registered in the "Single system of electronic registration of inspections" are illegal;
  
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  The results of inspections of business entities are entered by the regulatory authorities in the "Single system of electronic registration of inspections" within three days after the completion of the inspection;
  
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  to determine that from April 1, 2019 the coordination of inspections of business entities and control over the legality of inspections by regulatory authorities will be carried out by the Representative under the President of the Republic of Uzbekistan for the protection of the rights and legitimate interests of business entities;
  
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  the committee notes that since 1 April 2019, the Coordination of inspections carried out in the activities of business entities and the control over the legality of inspections by supervisory bodies is carried out by the representative for the protection of the rights and legitimate interests of business entities under the president of the Republic of Uzbekistan;
  
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  The activities of business entities are inspected by the Prosecutor's Office, the Ministry of Internal Affairs and the State Security Service , only in the course of an investigation into a criminal case. In this case, the activities of these entities may be inspected only in connection with the initiated criminal case, which must be specified in the decision to appoint an investigation;
  
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  the expenses for conducting auditorial audits are covered from the accounts of the organizations that have appointed such audits;
  
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  regardless of where the production buildings of the entities of entrepreneurial activity registered by the regional tax authorities in other districts (cities), where the commercial offices are located and where the services are provided (works are carried out), the inspection of their financial and economic activities is carried out simultaneously with the relevant tax authorities at the place where the business entity is registered, ;
  
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  The ministries, the heads of departments, the chairman of the Council of Ministers of the Republic of Karakalpakstan, the governors of the regions and the city of Tashkent, warned that the officials of the dignitaries will be prosecuted and even criminally prosecuted for unauthorized inspections of businesses and illegal interference in their economic activities.
  

It was becoming a problem to timely pay taxes on debts, fines, as well as on business entities that did not have the opportunity to pay off their debts, due to the overdue debtors on foreign trade operations of some business entities in the territory of the Republic. According to the resolution of the president of the Republic of Uzbekistan dated April 21, 2021 "on additional measures for improvement of the system of support for entrepreneurship, further improvement of the business environment"PP-5087:
Starting from May 1, 2021, for exporters who have delayed the receipt of foreign currency receipts and importers who did not provide timely import and clearance of goods, performance of works or provision of services in the customs regime of "free circulation", the amount of the fine established by the legislation should be reduced by two-folds ;
Imposing penalties on business entities will be stopped for overdue receivables on foreign trade transactions formed as of May 1, 2021, and the terms of receivables will be recalculated from May 1, 2021.
Also in accordance with this resolution from June 1, 2021:
Payment of taxes in installments to business entities that have been operating for more than three years and have paid the assessed taxes on time, but are unable to pay the tax debt due to their financial condition;
participants of foreign economic activity, who have been engaged in the import of tokens for more than three years, fulfilling their obligations for customs duties, but are not able to pay within the specified period of time according to their financial situation, will be given the right to pay customs duties as-is.
In this case, the amount of unpaid taxes or fees under this procedure shall not exceed 50% of the amount of taxes or customs duties paid by the business entity for the last three years.
As noted above, the procedure for collecting taxes and other mandatory payments, fines and financial penalties have had a negative impact on the financial condition of business entities. According to the Decree of the President of the Republic of Uzbekistan dated September 7, 2021 No. PF-6307 "On measures to create more favorable conditions for business entities in the implementation of tax obligations" from January 1, 2022:
financial sanctions are not applied for violations identified as a result of in-house tax audits;
financial sanctions for non-submission of tax returns by business entities in a timely manner will be abolished.
It is a problem related to the fulfillment of credit obligations in foreign currency, which has been a problem for businesses in the country in recent years. Especially in recent times, the rapid growth of the foreign exchange rate has led to an increase in the urgency of the problem. In accordance with the Resolution of the President of the Republic of Uzbekistan dated October 27, 2021 No. PP-5268 "On additional measures to reduce the burden on businesses to fulfill their credit obligations in foreign currency":
It should be noted that the equivalent of business entities that have existing agreements on compensation for loans in foreign currency from commercial banks in the national currency is the part of loans with an interest rate not exceeding 1.75 times the base rate of the Central Bank, but not more than 5%. Compensation will be provided by the State Fund for Entrepreneurship Support to cover interest expenses on.
In this case, the Fund will be allowed to recalculate the amount of current compensation for these loans and change their total amount in proportion.
In order to further develop small and medium-sized businesses through financial support of business projects in the regions, ensuring the timely implementation of business initiatives, the President of the Republic of Uzbekistan dated April 19, 2022 "On measures to further expand the mechanisms of financing business projects in the regions" number decision was made. According to the decision:
loans are allocated from 6 months to 1 billion soums, from 6 months to 1 year up to 2 billion soums, from 1 year to 2 years up to 3 billion soums, from 2 years to 3 years up to 4 billion soums and from 3 years up to 5 billion soums.
At least 70% of the credit line funds will be allocated to entrepreneurs operating in areas other than the city of Nukus, regional administrative centers and cities under the jurisdiction of the region.
In conclusion, the reforms being implemented by the government, the normative and legal acts being developed, first of all, the active involvement of the general population in entrepreneurship, support of business entities, increasing their income on the basis of creating favorable conditions for them, providing the people with necessary products, to ensure that their table is full.