BAKU, Azerbaijan, June 23
Trend:
The members of the Legislative Chamber of the Oliy Majlis of Uzbekistan have proposed to adopt a law on financial amnesty, Trend reports referring to www.kun.uz.
This issue was discussed during the round table organized by the committee on budget and economic reforms of the lower chamber together with the factions of political parties.
"To attract the funds of the shadow economy, their legalization is required by applying financial amnesty,” the lower chamber said. “It has been introduced in Russia, Georgia, Kazakhstan and other countries. The MPs said that it is advisable to adopt financial amnesty in the parliament in the form of a legislative act. A document adopted in the form of a law will inspire more confidence in citizens and will be controlled by the parliament."
The MPs stressed that on the basis of the Central Bank of Azerbaijan’s data on the balance of payments, international investment status and external debt of Uzbekistan, the balance of deposits of legal entities and the population over the past three years amounted to $11.5 billion.
The MPs spoke about the introduction of a system of mandatory declaration of income of citizens in the country, which will ensure social support to the population, create a fair tax system and reveal the informal economy.
Moreover, MPs stressed that the process of mandatory declaration along with replenishment of the state treasury will help fight corruption.
The coordination of measures in the fight against the shadow sector is confirmed by international experience, the effectiveness of the fight against the shadow economy in all spheres simultaneously.
The slowdown of the shadow economy will also greatly depend on solving the institutional problems, that is, protection of the rights and freedoms of entrepreneurs.
For this purpose, the MPs supported the need to improve the laws on freedom of entrepreneurship and the inviolability of private property.