Currency rates from 23/10/2024
$1 – 12817.85
UZS – 0.1%
€1 – 13865.07
UZS – -0.18%
₽1 – 132.95
UZS – -0.11%
Search
Economy 22/10/2024 Uzbekistan establishes accountability for excessive reporting demands from entrepreneurs

Uzbekistan establishes accountability for excessive reporting demands from entrepreneurs

Tashkent, Uzbekistan (UzDaily.com) —  President of Uzbekistan Shavkat Mirziyoyev of Uzbekistan has signed a law that holds government bodies accountable for requiring excessive reporting from entrepreneurs.

This law was approved by the lower house of the Oliy Majlis in July and received Senate support in September.

The document amends Article 241.10 of the Administrative Responsibility Code, which addresses violations related to document requests.

The new version of the law specifies the "demand from entrepreneurial entities for statistical, financial, tax, and other reports not included in the unified list of reports and statistical data submitted to government bodies, as well as other documents not provided for by legislation."

As before, the law establishes penalties for requesting excessive documents when opening a bank account. The article also covers reporting requirements included in the list that are requested in violation of established deadlines and procedures.

Violations by officials will incur fines ranging from 20 to 40 basic estimated values (from 7.5 to 15 million soums). For repeated violations within a year, fines may range from 40 to 60 basic estimated values (from 15 to 22.5 million soums).

The unified list of reports and statistical data required for submission was approved by presidential decree in January and includes 105 types of data.

Stay up to date with the latest news
Subscribe to our telegram channel