315 thousand entrepreneurs will be able to write off tax penalties
More than 315 thousand representatives of small and medium-sized businesses will be able to have their penalties waived upon full payment of their tax debt by the end of the year.
315 thousand entrepreneurs will be able to write off tax penalties
Over 315 thousand entrepreneurs in Uzbekistan will have the opportunity to take advantage of the "Second Chance" economic amnesty mechanism and write off accrued penalties upon full repayment of tax debt by the end of 2026. This was reported by the Chamber of Commerce and Industry of Uzbekistan.
As follows from presidential decree No. UP-175, this measure applies to representatives of small and medium-sized businesses who fully repay their tax debt, accumulated as of September 1, 2026, by December 31.
If this condition is met, the accrued penalties for the entrepreneurs will be written off. In addition, enforcement proceedings against them will be terminated.
According to the Chamber of Commerce and Industry, 315.2 thousand entrepreneurs currently have tax debts. The total amount of debt stands at 9.5 trillion soums, while the accrued penalties amount to 1.5 trillion soums.
The decree also provides for additional support measures. Entrepreneurs who independently correct errors in their tax reporting and pay the additionally assessed tax by the end of the year will not be charged penalties.
Furthermore, it is planned to write off certain penalty debts totaling 1.6 trillion soums accumulated between 2019 and 2025. Separately, the write-off of penalty debts on turnover tax amounting to 39.8 billion soums is envisaged.
To qualify for the write-off of penalties under the "Second Chance" mechanism, an entrepreneur must fully repay their tax debt by December 31, 2026.