Uzbekistan takes measures to support business

Uzbekistan takes measures to support business

In accordance with the Resolution of the President “On measures to support business entities to reduce the negative impact on the economy of a sharp drop in air temperature” No. ПП-43 dated February 3, 2023 (the “Resolution No. ПП-43”), business entities will be given the opportunity to pay tax debts that have increased (formed) as of February 1 in relation to January 1, 2023, in installments in equal shares (from March 1 to July 1, 2023) without accruing interest, setting additional conditions and requiring security.

Moreover, until April 1, 2023, the following are suspended:

  • accrual of penalties on tax debts of business entities;
  • application of penalties to business entities for overdue accounts receivable on foreign trade operations;
  • accrual of interest and penalties for non-payment of payments under state acts acquired by business entities with installment payment terms payable in December 2022 and January 2023, including the initial payment;
  • enforcement of judicial acts and acts of other bodies related to recovery in favor of the state in respect of business entities that have encountered difficulties due to a sharp drop in air temperature.
Uzbekistan
Tax Law