In Uzbekistan, new, modern approaches are being introduced in the process of collecting tax debts and problematic loans. According to the President’s decree, the processes of inventorying, inspecting, and selling the debtor’s property have been simplified and transferred to a digital format. This creates the opportunity to realize assets online based on enforcement documents.
According to the new procedure, in collecting tax debts and problematic loans, the party that enforces the property based on enforcement documents can sell the property through electronic online auctions based on procedural documents officially prepared and by the decision of the state executor. This process ensures full transparency and promptness.
Property belonging to legal entities is also inventoried and inspected according to the new procedure. Work under enforcement documents of the tax authority is carried out by an official, while for documents regarding the execution of obligations secured by collateral, an authorized person of a commercial bank participates in this process under the assignment of the state executor.
Another important innovation of the new system is that documents related to auctions under enforcement documents and collateral documents, as well as inspection and inventory reports, are sent through electronic platforms. This step facilitates control for the tax authority and commercial banks and accelerates the realization of property.
Furthermore, the risks associated with assets sold or offered for auction based on inspection and inventory reports drawn up by the official of the tax authority or an authorized person of the commercial bank remain the responsibility of the registering authorities. This ensures legal safety and financial transparency.
Thus, through the new procedures, the collection of tax and loan debts in Uzbekistan has become a modern, digital, and efficient system.
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