Uzbekistan to draft new laws targeting money laundering, insider trading, and tax evasion 

The document formalizes several initiatives voiced by the president during an expanded meeting of the National Anti-Corruption Council in March. Among the key objectives is the creation of a legislative foundation to enhance transparency and accountability within government institutions.

One of the key laws to be drafted is the bill “On the Declaration of Income and Assets of Public Officials,” which will define the procedure for submitting declarations and outline mechanisms for verifying their accuracy.

The legislation will also clarify liability for the legalization of criminal proceeds — sanctions for money laundering will be revised in line with international standards. It is also planned to introduce administrative and criminal liability for insider trading and market manipulation in the securities sector.

Additionally, candidates for the positions of ministers and regional governors will be required to present and defend anti-corruption programs for their respective sectors before the Oliy Majlis.

Another draft law, expected to be completed by the end of June, will define a list of corruption-related crimes and strengthen penalties for them. It will also include provisions for the protection and incentivization of whistleblowers who report instances of corruption.

The third draft law will focus on improving tax control at the local (mahalla) and enterprise levels. It will introduce mechanisms for prompt response to tax violations: a first offense will result in a warning to the business, and if repeated within three days, a tax inspection will follow.

Among other proposed reforms are the creation of a unified registry of public servants and the introduction of a transparent hiring system based on merit and experience, with digital assessment of qualifications and performance.