RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of September 22, 2000 No. 365

About enhancement of auditor activities and increase in role of audit inspections

For the purpose of implementation of the Law of the Republic of Uzbekistan "About auditor activities", increases in role and the status of audit inspections, ensuring accounting of audit opinions by tax and other Cabinet of Ministers monitoring bodies decides:

1. Determine that:

financial and economic activities of microfirms in which financial accounting and reporting preparation is performed by auditing organization are checked by tax authorities with obligatory involvement of the relevant auditing organization. At the same time responsibility for reliability of the financial reporting is born by auditing organization.

2. Approve:

Regulations on procedure for recovery of penalty from business entities for evasion from carrying out obligatory audit inspection according to appendix No. 2.

3. Ceased to be valid according to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of 13.03.2019 No. 218

4. Ceased to be valid according to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of 13.03.2019 No. 218

5. Ceased to be valid

6. To the Ministry of Justice and Ministry of Finance of the Republic of Uzbekistan:

till October 1, 2001 to make in accordance with the established procedure re-registration and licensing for implementation of auditor activities of new sample to the operating auditing organizations according to requirements of this resolution;

together with the State Tax Committee to take measures for the termination in accordance with the established procedure of activities of the auditing organizations which did not pass re-registration in the specified time.

7. To provide to the Ministry of Justice of the Republic of Uzbekistan, the ministries and departments review and reduction of departmental regulating documents in compliance with this resolution.

8. Make additions and changes to some decisions of the government according to appendix No. 4.

9. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan Azimov R. S.

Appendix No. 2

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of September 22, 2000 No. 365

Regulations on procedure for recovery of penalty from business entities for evasion from carrying out obligatory audit inspection

1. This Provision is developed according to the Law of the Republic of Uzbekistan "About auditor activities" and establishes single procedure for recovery of penalty from business entity for evasion from carrying out obligatory audit inspection.

2. Action of this provision extends on the business entities who are subject according to the legislation to obligatory audit inspection.

3. The basis for imposing of penalty is evasion of business entity from carrying out obligatory audit inspection.

Evasion of business entity from carrying out obligatory audit inspection is recognized:

not carrying out audit inspection of the annual financial reporting till May 1 of the year following after accounting year;

lack of audit opinion.

4. The business entity who is subject to obligatory audit inspection carries out audit inspection of the annual financial reporting for previous year till May 1 of accounting year and within 15 days after the end of audit inspection represents the copy of audit opinion certified in accordance with the established procedure to the relevant tax authority.

5. In case of non-presentation of the copy of audit opinion in tax authority to fixed term, the business entity shall submit in writing in tax authority the explanation reflecting absence reason of audit opinion.

Evasion from carrying out obligatory audit inspection according to the legislation involves application of administrative punishment to the official of business entity. Evasion from carrying out obligatory audit inspection before the termination of calendar year after application of administrative punishment to the official of business entity involves recovery of penalty from business entity in the amount of, stipulated in Item the 7th this provision. At the same time in case of evasion from carrying out obligatory audit inspection on business entity the penalty is imposed judicially, and in case of recognition of fault by it in committed offense and voluntary payment of penalty - tax authority.

6. The penalty is collected in the procedure established by the legislation. At the same time recovery of penalty, the business entity exceeding in total twenty percent from the amount of the current assets on the last reporting date, is performed with provision to it payments by installments on payment of the levied amount monthly payments within six months from the date of decision making about collection.

7. Rates of penalty are differentiated and are collected in the established sizes depending on amount of gross revenue from sales of products (works, services) of business entity for the end of the accounting year which is subject to obligatory check.

 * In case of determination of the size of penalty the size of minimum wage for date of decision about imposing of penalty is used.

** For off-budget and charity foundations the gross revenue is understood as actual receipts, including the membership fees.

8. ceased to be valid

9. The paid penalties in full are transferred into the corresponding local budget.

10. Tax authorities keep the database about:

the business entities who are subject to obligatory audit inspection;

the business entities who underwent obligatory audit inspection with indication of the auditing organization which was carrying out such inspection on each business entity;

the business entities who evaded from carrying out obligatory audit inspection;

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