The President of Uzbekistan has signed a decree implementing tasks outlined at the sixth open dialogue with entrepreneurs held on August 27. The document significantly increases the maximum amount for cash payments for goods and services.

The decree approves proposals from the Ministry of Economy and Finance, the Ministry of Investments, Industry and Trade, and the Agency for Industrial Cooperation and Public Procurement. Among these proposals is setting the maximum cash payment limit at 400 times the base calculation value (BCV), equivalent to 176 million soums.

Previously, starting April 1 of this year, the maximum value of goods and services that could be paid for in cash was 25 million soums. Thus, the new limit represents a more than sevenfold increase, offering greater flexibility for businesses.

It is important to note that the restriction does not apply to goods and services that, by law, must be paid for exclusively via non-cash methods. For certain categories of products, cash payments remain prohibited.

Overall, the document outlines a comprehensive set of measures aimed at reducing business costs, minimizing inspections, strengthening legal protections for entrepreneurs, and expanding financial support mechanisms. This move is expected to stimulate economic activity and improve the business climate in the country.

Source: www.gazeta.uz