The capabilities for mutual VAT accounting on imported goods have been enhanced.

The President of Uzbekistan signed decree No. UP-214 on December 10, 2024, which introduces amendments to several acts related to entrepreneurial activity and tax regulation.

The main innovations pertain to the following areas:

• Criteria for identifying inactive enterprises: a business can now be classified as not conducting financial and economic activities if it does not open a bank account within three months or does not carry out transactions through its account within six months of its opening.
• Simplification of business liquidation: inactive companies will be transitioned to dormant status for one year, after which they may be removed from the state register.
• Implementation of mutual VAT accounting: businesses classified as "BBB" and above will be able to utilize the mechanism for mutual VAT accounting paid upon the import of goods and their sale.

The changes affect several decrees and resolutions of the President related to the regulation of alcoholic products, the simplification of business liquidation, and the system for assessing the socio-economic development of regions.

These measures aim to optimize tax accounting, streamline business liquidation processes, and support sustainable entrepreneurial entities.