Entrepreneurs were given the opportunity to settle tax debts without penalty
Uzbekistan has announced the "Second Chance" economic amnesty for small and medium-sized businesses. According to it, if entrepreneurs pay off their previously incurred tax debt in full by the end of 2026, penalties accrued on this debt will be written off.
Entrepreneurs were given the opportunity to close tax debts without penalties. This was stipulated in the Presidential Decree No. PF-175 of August 27, which entered into force on August 28.
According to the decree, the "Second Chance" economic amnesty will be valid until December 31, 2026 and will cover small and medium-sized businesses.
According to it, if the tax debt that arose before the announcement of the economic amnesty, excluding penalties, is paid in full by December 31, 2026, the penalty accrued on this debt will be written off. Also, enforcement proceedings related to the debt will be terminated.
To use this procedure, the business entity must have no tax debt, excluding penalties, as of January 1, 2027.
In addition, if an entrepreneur independently corrects previously submitted tax returns and pays the additional tax amount in full by the end of 2026, a penalty will not be charged for this amount.
Entrepreneurs who independently eliminate their errors within the framework of the economic amnesty will not have their points in the Business Entity Stability Rating reduced.
Also, certain debts that arose before January 1, 2026 will be written off. These include the unpaid part of administrative fines imposed for failure to submit tax returns on time.