Many entrepreneurs believe that if a company hasn’t conducted any transactions—no goods, sales, or employees—they simply don’t need to submit reports. This is a misconception. Even in a dormant state, a registered legal entity is required to submit zero reports: declarations, statistics, and forms to social security funds if the organization was previously registered.

Zero reporting confirms the absence of activity, but preserves the company’s status, current accounts, and the ability to resume operations in the future without re-registration. Missing a submission can result in fines, account blocking, and problems with restoring records.

Even with zero turnover, it’s important to fill out all forms correctly: indicate zero income and expenses, show account balances, and confirm that there is no cash flow. Many forget to submit statistical reports or forms for social security funds—this is a common cause of complaints from auditors.

If a company has had zero transactions for several months or even years, the smartest solution is to entrust the filing of a zero return to professionals. This will avoid fines, preserve legal status, and allow for a smooth return to business in the future.

 

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Choosing a tax system is one of the first and most important steps when setting up a business. It affects not only the amount of taxes but also the scope of reporting, accounting requirements, and HR and financial operations. In Uzbekistan, entrepreneurs primarily use a simplified tax system (STS), a general regime, or specific regimes for individual entrepreneurs and small businesses.

When choosing, consider the expected turnover, expense structure, number of employees, VAT accounting requirements, and the specifics of the business. If the business has a small turnover and minimal expenses, the STS may be more advantageous. For large-scale purchases, returns, and trading with partners, the general regime offers greater opportunities for accounting for expenses and reducing the tax burden.

It’s also important to consider future growth: if you plan to expand, work with corporate clients, or engage in foreign trade, accounting and reporting under the general regime are more flexible.

The right decision is often made based on an assessment of the business model, forecasts, and planned costs and revenues. Consulting with an experienced accountant helps avoid mistakes associated with choosing the wrong system, which may prove unprofitable in a year or two.

Choosing a tax regime in a timely manner saves time, money, and eliminates the need to re-issue documents.