Uzbekistan Senate Approves Lower Regulatory Burden for Businesses

Tashkent, Uzbekistan (UzDaily.uz) — The Senate of Uzbekistan’s Oliy Majlis approved at its 18th plenary session a law introducing amendments and additions to several legislative acts aimed at reducing the regulatory burden on businesses.

The legislation changes the procedure for suspending operations on business bank accounts. The Senate of the Oliy Majlis of Uzbekistan reported this.

The amendments affect the Economic Procedural Code and the Tax Code. Under the law, if a taxpayer does not object to a decision by the tax authority, operations on the taxpayer’s bank accounts may be suspended based on a decision by the tax authority itself.

If the taxpayer objects, the issue of suspending the operations will be considered by a court.

The law also clarifies the procedure for a tax authority to apply to a court. The application must include evidence of a violation of the law, confirmation that the taxpayer was notified and the taxpayer’s objection.

In addition, the legislation introduces a mechanism for promptly lifting restrictions if the circumstances that led to the violation are eliminated or if a court refuses to suspend operations on the bank accounts.

Senators said the law will help reduce unjustified temporary and financial costs for businesses, improve the efficiency of government agencies and reduce the burden on courts.

The law was approved by the senators following consideration.