Uzbekistan Senate Approves Lower Regulatory Burden for Businesses

Uzbekistan's Senate has given its approval to a new law designed to ease the regulatory load on businesses. The legislation, passed during the Oliy Majlis's 18th plenary session, introduces changes to several existing legal acts.

A key aspect of the new law is the revised process for suspending operations on business bank accounts. According to the Senate of the Oliy Majlis, the amendments impact both the Economic Procedural Code and the Tax Code. Under the updated regulations, if a taxpayer does not dispute a tax authority's decision, the tax authority can independently suspend operations on the taxpayer's bank accounts. However, if the taxpayer objects to the decision, the matter of suspending account operations will then be referred to a court for consideration.

The law also provides greater clarity on the procedure for tax authorities to file an application with a court. Such an application must now include proof of a legal violation, confirmation that the taxpayer was informed, and documentation of the taxpayer's objection.

Furthermore, the legislation establishes a system for the swift removal of restrictions. This mechanism will be activated if the issues that caused the violation are resolved, or if a court declines to suspend operations on the bank accounts.

Senators expressed that this law is expected to decrease unnecessary time and financial expenditures for businesses, enhance the effectiveness of government bodies, and alleviate the workload on the judicial system. The law received senatorial approval after thorough review.