A program of economic amnesty called 'Second Chance' has started in Uzbekistan to support small and medium-sized enterprises. This decree was signed by the country's president.
According to the Ministry of Justice, this amnesty will be valid until December 31, 2026. Under the program, penalties will be canceled, and enforcement proceedings for such debts will be terminated, provided the tax debt is fully repaid.
Entrepreneurs who voluntarily submit an adjusted tax declaration and pay the missing amounts by the end of the current year are exempt from penalty accrual on that amount. Furthermore, they will be relieved of administrative liability for failing to provide a payment order to the bank. Self-correction of errors under the amnesty will not result in a reduction of sustainability rating scores.
The amnesty also provides for the write-off of unpaid fines related to late submission of tax reports or failure to submit a fixed turnover tax. It is also permitted to enter previously drawn up employment contracts into the Unified National Labor System without applying late penalties. The goal of these measures is to reduce the tax burden and support business activity.
Additionally, it was reported that a three-year moratorium on all inspections of small business entities has been introduced in Uzbekistan. However, there are exceptions: inspections may be conducted within the framework of criminal cases, when assessing the impact of activities on public health, monitoring compliance with labor legislation, when considering citizens' appeals, issues of VAT reimbursement, and during the enterprise liquidation procedure.