BAKU, Azerbaijan, Dec. 11
By Fakhri Vakilov - Trend:
The Law on the State Budget of Uzbekistan for 2020 approved fixed amounts of personal income tax for individual entrepreneurs, Trend reports citing Uzbek media.
Individual entrepreneurs have been paying a fixed tax for many years in Uzbekistan. The new version of the Tax Code will not have such a tax - it will be replaced by a personal income tax (PIT). Individual entrepreneurs with a turnover of up to $10,493, as stipulated by the bill, get the right to choose: pay it at a fixed rate or fixed amounts.
Moreover, the fixed amounts of personal income tax for 2020 for many types of foreign enterprises’ activities are significantly reduced in comparison with payments of the current year.
An individual engaged in several activities pays a fixed amount of tax for each activity separately; carrying out entrepreneurial activity on leased equipment and in leased premises, must submit a certificate of the lessor to the tax authority at the place of residence; doing business outside the place of state registration, pays a fixed amount at the place of registration at the highest rate established at the place of registration and place of actual activity.
Individuals providing services related to children's gaming machines pay a fixed amount for each equipped place (unit). Legal entities providing services related to children's slot machines pay turnover tax or generally established taxes in the manner established by the Tax Code.
The income of individuals from the rental of property is subject to personal income tax at a rate of 12 percent.
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