The sale of real estate in cash will be limited in Uzbekistan. The First Deputy Chairman of the Tax Committee, Mubin Mirzaev, announced this at the next meeting of the Senate of the Oliy Majlis on June 26 this year.informed.
“There are still many problems, we see this. The share of the shadow economy remains high. Therefore, together with the Ministry of Finance, the Central Bank, the Tax Committee, the Chamber of Commerce and Industry, and entrepreneurs, we have developed a presidential decree to fight against the shadow economy,” he says.
According to Mirzaev, the main focus is on encouraging non-cash payment systems. This has been agreed with all ministries and agencies and presented to the administration.
“Many countries have set a goal to switch to a non-cash payment system by 2030. Therefore, this decision highlights the implementation of the largest transactions through a non-cash payment system. We are starting with real estate. Nowadays, buying and selling houses is mostly done in cash. We reflected all this within legal order, through bank turnover, to carry out sales without breaking trading rules correctly, with all encouragement mechanisms and likewise, to work without violating laws and regulations. I think its adoption will be the main support, and we will work on this,” says Mubin Mirzaev.
