Uzbekistan intends to increase share of cashless payments to 75% by 2030 to reduce shadow economy
TASHKENT. Dec 12 (Interfax) - Uzbek President Shavkat Mirziyoyev has signed a decree on additional measures to expand cashless settlements and reduce the share of the shadow economy, providing for the phased introduction of tools to popularize cashless payments and reduce the scale of the unobserved economy.
According to the document, it is planned that the share of the shadow economy in relation to the country's GDP will fall 23.1% by 2030, as well as to increase the share of the population's cashless payments in trade and services to 75%.
The decree establishes that from April 1, 2026, a number of operations will be carried out exclusively using bank cards or through electronic payment systems.
The restriction applies to services of state bodies, payment for electricity, natural gas and drinking water, purchase of alcohol and tobacco products, sale of oil and gas products at gas stations and electric vehicle charging services.
Settlements for goods and services worth more than 25 million soum, as well as operations for the purchase and sale of real estate and vehicles, will be made in cashless form.
Settlements under purchase and sale agreements will be carried out through electronic data exchange between information systems of banks and notary bodies. The exception will be operations carried out through bank cash desks.
In addition, from January 1, 2026, the activities of foreign legal entities providing electronic services and selling goods to individuals without registration with a tax committee will be restricted. After notification, registration must be completed within 30 days.
The document also provides for measures to introduce unified payment QR codes. By January 1, banks must ensure the provision of QR codes to all legal entities engaged in trade or service activities. Starting July 1 next year, accepting payments via QR code will become mandatory. Its absence will be classified as a violation of trade rules.
In August, Mirziyoyev said at a meeting with entrepreneurs that the share of the shadow economy in the country is around 40%.
The official exchange rate on December 11 is 12,047.45 soum/$1.
