The Tax Committee of Uzbekistan clarified its position on the possible monitoring of P2P transfers between citizens. The agency stated that it supports the observance of banking secrecy and intends to interact with financial organizations only within the framework of current legislation.
The Committee emphasized that the exchange of information with banks must take into account the requirements for protecting personal data and maintaining citizens' trust in the banking system. In Uzbekistan, the secrecy of banking operations, accounts, and deposits is guaranteed by the Constitution, and the procedure for data transfer is regulated by the laws "On Banking Secrecy" and the Tax Code.
The agency specifically noted that ordinary transfers between individuals via P2P systems are not considered a taxable object in themselves. The mechanism being developed does not provide for mass control of personal money transfers of the population.
According to the Tax Committee, the goal of the project is to create a transparent and secure system of interaction between tax authorities and banks, taking into account international experience.
The discussion of the initiative has already been completed. All proposals, including comments from the Central Bank, will be considered before a final decision is made on the document.