Decree PF-175: the "Second Chance" amnesty, a 15% profit tax for services at bazaars and interpretation in favour of entrepreneurs

Presidential Decree PF-175 of 27 August 2026 is not one big change but several separate reliefs that touch an entrepreneur's day-to-day work. One of them has a deadline: the economic amnesty called "Second Chance" (Ikkinchi imkoniyat) can only be used until 31 December 2026. That is why it helps to read this news as a to-do list for the end of the year.

At a glance: what changed and who is affected?

What changed	Who is affected	What to do
If tax arrears that arose before the Decree was adopted are paid in full by 31 December 2026, the late-payment interest (penya) on those arrears is written off	Small and medium-sized businesses	Work out the amount owed and plan to pay it off in full by the end of the year
The unpaid remainder of administrative fines imposed before 1 January 2026 for late filing of tax returns is written off	Small and medium-sized businesses	Check the settlements in your personal account for any such fines
The corporate profit tax rate on profit from providing services at bazaars and trade complexes is cut from 20% to 15%	Profit tax payers earning profit from such services	Determine which income falls under this definition and account for it separately from other income
The minimum rent no longer applies to real estate that a founder (an individual) leases or lends free of charge to their own company	Legal entities whose founders are individuals, and those founders	Review the lease or free-use agreement
Until proven otherwise, an entrepreneur is deemed to have acted in accordance with the law	All entrepreneurs	Keep your documents in order: in a dispute they are your evidence
Every entrepreneur is sent a notification about the benefits they can use	All entrepreneurs	Read the notification and apply for the benefit
It is proposed to exempt other income of turnover tax payers from tax (for now this is a DRAFT)	Turnover tax payers	Keep working under the current rules for now and watch for the law to be adopted

How does the "Second Chance" amnesty work?

The amnesty is aimed at small and medium-sized businesses and has two parts.

The first part concerns late-payment interest. If you have tax arrears that arose before the Decree was adopted and you pay them in full by 31 December 2026, the penya charged on those arrears is written off. The key word is "in full": the condition is to clear the whole debt, so do not count on escaping penya with a partial payment.

The second part concerns fines. The unpaid remainder of administrative fines imposed before 1 January 2026 for failing to file tax returns on time is also written off.

Example: how does a shop "save" on penya?

The example is prepared by the author, with hypothetical figures.

"Gulzor savdo" LLC is a grocery shop. Its tax arrears that arose before the Decree was adopted are 18,000,000 soum, and the penya charged on them is 2,400,000 soum (the penya amount is hypothetical; its rate is not given here).

Option	Paid by the end of December	Result
A: the debt is paid in full	18,000,000 soum	The penya (2,400,000 soum) is written off
B: part of the debt is paid	12,000,000 soum	The amnesty condition (payment in full) is not met, so the write-off of penya cannot be relied on

The conclusion for the owner is simple: if 18 million soum can be found by the end of the year, option A saves an extra expense of 2.4 million soum.

Practical tip: do not wait for the last days of December. A bank payment needs time to reach your account, so pay the debt early and check your settlement status with the tax authority (that the debt has dropped to zero).

What became easier for services at bazaars and trade complexes?

The corporate profit tax rate on profit from providing services at bazaars and trade complexes is cut from the current 20% to 15%. The rate applies only to this type of profit. If the company has other activities too, it is advisable to keep this income and the related expenses separately in the accounts; this makes it easier to justify which rate applies to which profit.

Rent on a founder's property: what was abolished?

In many small companies the founder leases a building or room they own to the company or lets the company use it free of charge. The Decree abolishes applying the minimum amount of rent to such real estate. The rule concerns property provided by a founder of a legal entity who is an individual.

What does "the burden of proof lies with the state body" mean?

On this point the Decree establishes the following:

Until the state body proves otherwise, the entrepreneur is deemed to have acted in accordance with the law.
It is the state body, not the entrepreneur, that proves a violation was committed.
Irremovable contradictions, ambiguities and inconsistencies in legislation are interpreted in favour of the entrepreneur.
Insufficient evidence from the state body is also interpreted in favour of the entrepreneur.

This does not release the entrepreneur from keeping documents. On the contrary, if contracts, VAT invoices and payment documents are in order, it is easier to show that the state body's evidence is insufficient.

What is expected for the turnover tax?

This part is not yet a rule in force, only an instruction. The Cabinet of Ministers is to submit a draft law and resolution by November 2026. The draft is expected to exempt from tax the other income of turnover tax payers that does not relate to sales revenue and to abolish the obligation to file tax returns on it.

Until the law is adopted, keep accounting for such income under the current rules.

What does the benefit notification give you?

Under the Decree, every entrepreneur is sent a notification about the benefits they can use. The possibility of using a benefit automatically on the basis of an application is being created. In other words, instead of searching for a benefit yourself, it is enough to read the notification carefully and apply if needed.