Amnesty declared for 20,000 entrepreneurs

More than 20,000 entrepreneurs who were found to have errors or shortcomings during tax inspections will not face any penalties. This was announced today, August 20, during President Shavkat Mirziyoyev’s open dialogue with entrepreneurs.

It was stated that the number of entrepreneurs operating under this tax regime is increasing daily due to the reduction of the value-added tax rate to 12 percent. However, many still hesitate, thinking that switching to VAT will complicate accounting, require hiring an accountant, and increase expenses.

Therefore, companies switching from turnover tax to VAT will be exempt from paying profit tax for a year. Even if there are errors in their reporting, no penalties will be applied. Additionally, up to 5 million soums of accountants’ salaries for six months can be deducted from the taxes these companies pay.

It was also mentioned that tax inspections have revealed errors and shortcomings totaling 16 trillion soums among more than 20,000 entrepreneurs so far. This negatively affects the ranking of thousands of business owners in the entrepreneurship rating.

"Therefore, a special amnesty is being announced today, under which no penalties will be applied regarding these inspections. Instead, entrepreneurs will have the opportunity to voluntarily correct all errors and shortcomings by November 1.

In short, starting from November 1, business owners will begin their entrepreneurship ranking with a clean slate," the President said.