A digital approach has been introduced in the collection of tax debts and loans

New and modern approaches are being introduced in Uzbekistan for the process of collecting tax debts and problematic loans. This was reported by Zamin.uz.

According to the presidential decree, the processes of registering, inspecting, and selling the debtor's property have been simplified and transferred to a digital format. This, in turn, creates the possibility of realizing assets online based on enforcement documents.

According to the new procedure, in collecting tax debts and problematic loans, the enforcing party can sell the property through electronic online auctions with the decision of the state executor based on procedural documents issued by the enforcing party. This process ensures transparency and promptness in every aspect.

Properties belonging to legal entities are also registered and inspected under the new procedure. The tax authority carries out enforcement document-related tasks through an official.

Regarding documents related to the execution of obligations secured by collateral, a representative of a commercial bank participates based on the order of the state executor. Another important innovation in the new system is that auctions, collateral documents, registration, and inspection reports related to enforcement documents are sent through electronic platforms.

This measure facilitates control for the tax authority and commercial banks and accelerates the realization of property. Additionally, risks related to assets sold or offered at auction based on registration and inspection reports prepared by the authorized person of the tax authority or commercial bank remain the responsibility of the registering authorities.

This ensures legal security and financial transparency. In conclusion, through the new procedures, the process of collecting tax and loan debts in Uzbekistan has been transformed into a modern, digital, and efficient system.

These reforms serve to strengthen economic stability.