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Uzbekistan to almost fully write off fines to entrepreneurs

Uzbekistan Materials 28 February 2024 13:15 (UTC +04:00)
Uzbekistan to almost fully write off fines to entrepreneurs
Kamol Ismailov
Kamol Ismailov
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TASHKENT, Uzbekistan, February 28. Uzbekistan will write off 98 percent of the amount of fines applied under Article 227-1 of the Tax Code, Trend reports.

This is provided by the decree of the president of Uzbekistan "On optimization of measures of responsibility for certain tax offenses" №39 of 26.02.2024.

According to the document, the basis for the application of financial sanctions are:

- fiscal offenses committed for the first time - in the amount of 2 percent of net proceeds (previously 100 percent) received in the last reporting quarter in which the sale took place;

- repeatedly committed within 1 year - in the amount of 20 percent of net proceeds received in the last quarter in which the sale took place.

Judicial and enforcement cases related to collection are discontinued.

Business entities will be refunded 98 percent of the sums of fines on account of forthcoming payments.

Meanwhile, Uzbekistan will abolish 22 types of licenses and permits for entrepreneurs from March 1, 2024.

This is stipulated by the presidential decree of January 9, 2024.

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