Uzbekistan Detects 21.5bn Soum P2P Transactions

Tashkent, Uzbekistan (UzDaily.com) — The Tax Committee of Uzbekistan has reported the detection of a significant volume of funds received by entrepreneurs through peer-to-peer (P2P) transfers. According to the agency, the total amount identified reached 21.5 billion soums during inspections.

Since the beginning of the year, 481 field tax audits have been conducted based on complaints related to the non-issuance of fiscal receipts and the use of P2P transfers for accepting payments. These inspections revealed cases where entrepreneurs failed to issue receipts for transactions exceeding 32 million soums.

As part of the analysis, 411 requests were sent to commercial banks. The data obtained showed that a number of entrepreneurs had received funds into personal bank cards totaling 21.5 billion soums.

Following the inspections, financial sanctions exceeding 7 billion soums were imposed on 464 business entities.

The Tax Committee emphasized that the use of P2P transfers without issuing fiscal receipts creates conditions for tax evasion, underreporting of actual revenue, and contributes to the growth of the shadow economy, negatively affecting the transparency of financial operations in the country.