Baku, Azerbaijan, March 7
By Fakhri Vakilov - Trend:
Uzbekistan has greatly simplified the procedure for surrendering daily cash receipts, and a number of sanctions for financial offenses have been lifted, Trend reports with reference to Uzbek Ministry of Justice.
The amendments and additions to some legislative acts of the President state that, the sanctions applied by the Central Bank, financial and tax authorities in cases of enterprises hiding foreign currency earnings are lifted.
They include:
- Application of financial sanctions and administrative fines;
- bringing to responsibility of officials for the non-application of appropriate measures against the violator and to ensure the implementation of norms of currency control and regulation.
Furthermore, business entities that have daily cash receipts of more than 20 times the minimum wage amount, pass it daily to the cash offices of banks through a collection service or independently.
Those persons whose revenues are less than 20 times the minimum wage pass it to the cash departments of banks through the collection service during the periods they determine or independently. Before, passing the cash independently was not implied.
The practice of Central Bank approving the minimum amount of cash reserves in branches of commercial banks has been abolished. The activities of special units for monitoring the issuance of cash in commercial banks have been terminated.
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