Tashkent, Uzbekistan (UzDaily.com) — During a plenary session, the Senate reviewed and approved the Law "On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan in Connection with the Improvement of Tax Administration, the Liberalization of Liability for Tax Offenses, and Currency Regulation."

The law aims to support entrepreneurs, eliminate overlapping penalties, and establish fair competition conditions.

One of its key provisions is the removal of multiple penalties for the same offense. Currently, businesses can face both financial and administrative fines for the same violations, such as underreporting employees or failing to comply with digital product labeling requirements.

To address this issue, the existing three-stage system of imposing a 50% fine on unreturned assets is being abolished. Instead, a single financial penalty of 20% will be introduced.

Additionally, for investment project contracts involving design, equipment imports, and construction and installation work that exceed 180 days, the contractual delivery deadlines will be legally recognized as valid.

The adoption of this law will standardize tax regulations, eliminate ambiguities in interpretation, and ensure consistent enforcement. Moreover, the liberalization of penalties for tax violations will create a more favorable environment for businesses, reduce their costs, and strengthen legal protections.