The "Second Chance" amnesty: 315,000 entrepreneurs can write off 1.5 trillion soums in penalties

The "Second Chance" economic amnesty, announced by a presidential decree following the VI open dialogue with entrepreneurs in Khiva, covers 315,200 small and medium-sized businesses. According to the Chamber of Commerce and Industry, they have accumulated 9.5 trillion soums of tax debt incurred before 1 September 2026, with roughly 1.5 trillion soums of penalties accrued on it.

The condition is simple: if an entrepreneur repays the principal debt in full by 31 December 2026, the penalty on it is written off. If they correct errors in previously filed reports themselves and pay the additionally assessed tax by year-end, no penalty is charged on that amount at all, and the sustainability rating is not reduced.

The amnesty is not limited to penalties. Unpaid administrative fines and financial sanctions accrued before 1 January 2026 are written off — a further 1.6 trillion soums of fines for 2019-2025 and 39.8 billion soums of turnover tax penalties. Enforcement proceedings on such debts are suspended, and employment contracts may be registered retroactively without a late filing fine.

What this means in practice: reconcile your account with the tax authority before the end of the year. If the principal debt is manageable, it pays to close it by 31 December — otherwise the penalty remains and keeps growing. Correcting your reporting now is cheaper than an assessment after an audit later.

Photo: Adam Harangozó, Wikimedia Commons (CC BY-SA 4.0)