The government of Uzbekistan is developing measures to combat the shadow economy, as outlined in the draft presidential resolution. The document has not yet been published for public discussion and is currently undergoing the stage of coordination through ministries and agencies.
On Saturday, the Chairman of the Tax Committee, Sherzod Kudbiev, and the head of the Chamber of Commerce and Industry, Davron Vahabov, discussed the project with entrepreneurs. Changes may be made to the document based on the suggestions received.
According to the draft, the sale of real estate and vehicles is proposed to be carried out only through non-cash payments. Commissions within these transactions are planned to be abolished.
Furthermore, purchase and sale agreements with individuals must be notarized based on banking data, while with legal entities, it should be done through electronic invoices with proof of non-cash payment.
The proposal suggests conducting payment only in non-cash form if the price of goods and services exceeds $3000.
Employees of budget organizations, including universities and large taxpayers, as well as military personnel, are proposed to receive 100% of their salary through bank transfers.
A catalog of services that can only be paid for in non-cash form is to be approved, including government services, utilities, tuition contracts in universities, and more.
Wholesale trade is also planned to be completely shifted to non-cash payments.
In February, a presentation of measures to reduce the use of cash was presented to President Shavkat Mirziyoyev. Among them were the implementation of non-cash payments for budget organizations providing services to the population, developers selling housing to individuals, and others.
Vice Prime Minister Jamshid Kuchkarov announced in December last year that a draft presidential resolution was prepared to reduce the circulation of cash to combat the shadow economy. It focused on making certain payments only through bank cards.
Earlier in the year, the president stated that the damage to the state budget from the shadow economy is estimated at 30 trillion soums, with the GDP loss at 135 trillion soums. Nearly 11,000 developers (41%) reported having only one employee in their reports.
Starting from February 1, a sustainability rating for entrepreneurs was launched in Uzbekistan to incentivize well-operating businesses and encourage them to emerge from the "shadows."
