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After January 1, First Time Violator Businessmen Not To Be Jailed In Uzbekistan

Wednesday, January 11, 2017 - 21:22

On January 1, 2017, Uzbekistan introduced the new law, according to which business entities and their employees shall be exempt from criminal and administrative liability in the event that they commit offenses related to the financial and economic sphere for the first time. In October 2016, President of the Republic Shavkat Mirziyoyev signed the decree that established this rule. In accordance with this document, business entities can enjoy such an exemption from liability if they voluntary compensate for the material damage and the violations, as established by the current legislation.

 

In addition, the document also determines that such punishment as the ban on entrepreneurship activity will be almost gone from the Criminal Code of Uzbekistan in 2017. It will apply only to those entities whose business activities have led to the death of other persons or other grave consequences for the economy or for others.

 

The law applies primarily to those moments that are associated with creation of reliable institutional mechanisms in the republic to ensure the inviolability of private property, improve the business environment and to enhance the role of private and small business. The draft law provides for a significant reduction in the level of interference in the business activities on the part of public authorities, eliminating restrictions and barriers that hinder its development.

 

Another real easing for businesses was the abolition of all forms of unscheduled inspections and counter-audits carried out by subjects of business activities, including checks for criminal cases.

 

All in all, since 2006, the country has introduced 27 reforms that have had an impact on business.



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http://easttime.info/news/uzbekistan/after-january-1-first-time-violator-businessmen-not-be-jailed-uzbekistan