Baku, Azerbaijan, Aug. 15
By Fikret Dolukhanov – Trend:
From January 1, 2019, the enterprises in Uzbekistan annual turnover (revenue) of which in the previous year exceeds 1 billion soums, or has reached the established threshold over the year, will be switched over to the payment of generally established taxes, the Ministry of Finance of Uzbekistan said in a statement.
For business entities with a turnover of more than 1 billion soums, a tax on the property of legal entities, land tax and tax on the use of water resources is being introduced.
For taxpayers with an annual turnover of up to 1 billion soums, the procedure for calculating and paying revenue tax with a base rate of four percent and with the possibility of paying value added tax on a voluntary basis is being established.
The concept of improving tax policy takes into account that the first systemic trouble of the tax system is a high level of tax burden for taxpayers who pay the generally established taxes, as well as a significant difference in the level of tax burden between economic entities that pay generally established taxes based on simplified and generally established tax systems.
The tax burden on large enterprises is 3-4 times higher on average. At the same time, if the share of small businesses in the gross domestic product is more than 50 percent, they account for slightly more than 7 percent in the structure of tax revenues.
At the same time, an extremely high level of tax burden on business entities causes the withdrawal of income into the shadow turnover.
Closing the existing tax gap between large enterprises and small and private companies and firms and "individuals" will help to resolve distortions in taxation.
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