Listen to the article
Small and medium-sized businesses in Uzbekistan have until 31 December 2026 to settle outstanding tax debts and correct past filings under a newly declared economic amnesty called «Ikkinchi imkon» — «Second Chance» — which cancels associated penalties and halts enforcement proceedings for those who comply.
The amnesty covers several distinct categories of relief. Businesses that pay their full principal tax debt — excluding penalties — by the year-end deadline will have all accrued late-payment charges written off and any active enforcement actions against them closed. Crucially, that relief applies only to entities that carry no remaining principal tax debt as of 1 January 2027, meaning partial settlement does not qualify.
Taxpayers who voluntarily amend previously submitted tax returns and pay any additional tax arising from those corrections by 31 December will face no penalty interest on the extra amounts. The provision is designed to encourage self-disclosure rather than waiting for an audit.
Administrative Penalties Also Cleared
Beyond tax debt, the amnesty removes administrative liability for businesses that failed to submit payment orders to their banks for taxes and levies. Unpaid portions of administrative fines imposed for late submission of tax reports, as well as unpaid financial penalties applied to entities paying the fixed-rate turnover tax, will be written off entirely — provided those obligations arose before 1 January 2026.
Businesses that independently correct errors under the amnesty will not see their scores reduced in the Tadbirkorlik subyektlarining barqarorlik reytingi — the official stability rating for business entities — a measure intended to remove the reputational deterrent that might otherwise discourage voluntary disclosure.
The amnesty also addresses a separate compliance gap in labour records: previously formalised employment contracts that have not yet been entered into the Unified National Labour System may now be registered without the late-entry fines that would normally apply.
The package sets a firm single deadline across all its provisions. Businesses that act before 31 December stand to eliminate penalty liabilities accumulated over years of arrears; those that miss the cut-off receive none of the relief.