Uzbekistan Approves Law on 50% Discount on Fines for Businesses
The draft still needs to pass the Senate and receive the president's signature
On 20 October, deputies of the Legislative Chamber of the Oliy Majlis endorsed the draft law in its final reading. It concerns the procedure for applying financial sanctions to entrepreneurs and has now been sent to the Senate.
After the rules are adopted, an entrepreneur will be able to pay half of the imposed fine within a month of the sanction being applied without paying the remainder. Phased payment is also provided for: it can be completed within six months of the decision being made.
The document also defines the procedure for appealing financial sanctions and refunding funds. If the decision on a fine is overturned or declared invalid, the entrepreneur must be fully reimbursed for the illegally collected money in the shortest possible time.
