Tashkent, Uzbekistan (UzDaily.com) – A Government Resolution approved the Regulation on the procedure for extending the deadline for payment of property tax for legal entities, land tax and single land tax by local government authorities.

According to the Regulation, local government authorities will extend the deadline for paying property tax for legal entities, land tax and single land tax for legal entities whose financial condition does not allow paying tax arrears within the specified period.

There must be one of the following reasons for this:

- if the lump sum payment of taxes, penalties and fines leads the taxpayer to bankruptcy;

- if the production and (or) sale of goods and services by the taxpayer is seasonal in nature;

- in the event of damage to the taxpayer as a result of a natural disaster, a man-made disaster or other force majeure circumstances.

The tax payment period can be extended from 1 month to 24 months:

- in relation to the entire amount of the tax liability, or part thereof, or any future tax liability arising;

- in relation to one or more types of taxes provided by this Regulation.

Extension of the tax payment period is carried out by the relevant decisions of the Jokarga Kenes of the Republic of Karakalpakstan, regional and Tashkent city Kengashes of people’s deputies.