of May 29, 2024 No. ZRU-927
About modification of article 227-1 of the Tax Code of the Republic of Uzbekistan
Accepted by Legislative house on April 2, 2024
Approved by the Senate on May 18, 2024
In recent years in the country the considerable work directed to enhancement of the tax legislation for the purpose of ensuring freedom of business activity and protection of the rights of subjects of entrepreneurship is carried out. At the same time in connection with reflection in the Constitution of the Republic of Uzbekistan in the new edition of the principle of proportionality of punishment there is need for further liberalization of the responsibility connected with violation of the tax legislation.
This Law to the Tax code of the Republic of Uzbekistan makes the changes providing reduction of the sizes of the financial sanctions applied for making of fiscal offenses. So, when making these offenses for the first time the size of penalty constitutes two percent from the net revenue received in the last reporting quarter, and in case of repeated making of offense - twenty percent.
This Law will serve further optimization of responsibility for violation of the tax legislation and creating favorable conditions for implementation of business activity.
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