For entrepreneurs who did not submit tax reports on time, the sanctions will be canceled

The Presidential Decree "On measures to create more favorable conditions for business entities in the performance of tax obligations"was adopted.

According to the decree, from January 1, 2022:
- financial sanctions are not applied for offenses identified by the results of a desk tax audit;
- financial sanctions for non-submission of tax reports by entrepreneurs within the established time limits are canceled.

In January – July 2022, as an experiment, value-added tax reports, excise tax, turnover tax and land tax from legal entities of taxpayers registered with the State Tax Administration of the Khorezm region will be calculated and formed.

Until January 1, 2022, taxpayers will be given the opportunity to reflect in electronic invoices the object of taxation or other objects related to taxation necessary for calculating value added tax, excise tax and turnover tax.