Tuesday, 23, April, 2019

Tax collections in Q1 2019 topped 18.4 trillion soums, which is by 1.7 times more than in 2018, the Tax Committee said in a statement.

"The overview of tax collections from individuals and businesses indicate that more citizens began to abide by the laws and that businesses are coming out from the shadow," the statement added.

The value added tax collections doubled, while the number of VAT payers increased fivefold to reach 35 thousand. The collection of income tax increased by 2.6 times, with the number of payers increasing five times, surpassing 32 thousand.

The number of individuals paying income tax reached 4.8 million, which is by 450 thousand, or 10% more to the last year. In general, the introduction of the 12% flat income tax allowed the businessess to keep 169 billion soums, and 1.7 trillion soums previously collected by the state was kept by employees, the statement said.

At the end of June 2018, President Shavkat Mirziyoyev approved the tax overhaul which took effect on January 1.

Latest in Economy