Reviewing the Accounts of an Individual Entrepreneur

Status of the service

Individual entrepreneurs are not on the mandatory audit list (Article 35 of ZRU-677), so a review of an IE is an initiative audit: the client defines its focus and scope (Article 38).

Tax regime of an IE in 2026

• turnover tax — 1% for IEs (Article 467 of the Tax Code) with total income of no more than UZS 1 billion (Article 461);
• social tax — at least 1 BCV per month (Article 408);
• above the threshold — a switch to VAT (Article 237) and profit tax.

What is checked

• completeness of revenue: cash register receipts and e-invoices (ESF);
• supporting documents for expenses;
• settlements with the budget in the taxpayer's personal account;
• hired employees and personal income tax (PIT).

When a review is needed

• Before a tax audit — to assess risks and have time to correct them
• When changing accountants — to record the state of the books
• Before a major transaction or taking out a loan
• When switching to a different tax regime
• When you suspect the books are being kept incorrectly

Areas of the review

• Completeness of recorded income
• Justification and documentary support of expenses
• Correct calculation of taxes under the applicable regime
• Consistency between the accounting records and the filed returns
• Compliance with the conditions of the applicable tax regime

A common problem

Mixing personal and business transactions. Expenses paid from a personal account and business receipts spent on personal needs without proper paperwork are a source of problems during a tax audit and an obstacle when applying for a loan.