It was noted that in recent years, reforms have been carried out in the country to create a favorable investment climate for business, including reducing the tax burden, simplifying taxation, and supporting manufacturers through the widespread use of modern information and communication technologies in the field.

According to the bill, the excise tax rate on mobile communication services will be reduced from 15 to 10 percent, parents will be exempt from income tax on payments for education and upbringing of children in non-state preschool educational organizations and schools up to 3 million soums per month, tax benefits will be provided for the development of the service sector and a separate tax regime will be introduced.

Tax incentives will also be provided to support the capital market, and the import of spare parts for medical equipment and products, as well as consumables for medical purposes, is exempt from value-added tax. In addition, in order to increase the level of employment of women, a social tax rate of 1 percent will be established for enterprises in the regions included in the register of rural territories with a high density of labor resources.

As the deputies noted at the meeting, the adoption of the bill will serve to further improve the investment environment, introduce the principles of fair competition, and further develop the activities of business entities.

The bill was conceptually adopted by representatives of the people in the first reading. Taking into account the relevance of the draft law, at the suggestion of the responsible committee, it was considered article by article in the second reading under the new title "On amendments and additions to some legislative acts of the Republic of Uzbekistan in connection with the improvement of tax and customs legislation".

After that, the document was adopted in the third reading, it will be sent to the Senate of the Oliy Majlis.