Only courts can suspend accounts of business entities

President of Uzbekistan Islam Karimov signed a decree “On additional measures on further improving investment climate and business environment in Uzbekistan”, which sets the new rules.

According to the decree, the state tax services can suspend operations of the business entities with their accounts at commercial banks only in line with the decision of the court if they fail to submit tax or financial report, or they are not located in reported address.

Earlier, the tax bodies can suspend accounts of the business entities if they fail to submit tax or financial report in set terms.