On March 24, the President signed the Measures implement the project "Tax Administration Reform with the participation of the World Bank" decree.
Recall that in June 2021, the World Bank announced the allocation of a loan of $60 million for these purposes. The project is expected to expand the tax base and increase tax collection, as well as improve the quality of services to taxpayers.
According to the decree, the target figures for the implementation of the project are:
- bringing the level of automation of calculation and payment of taxes to 90%;
- full coverage of business entities with electronic services by increasing the number of electronic services provided by tax authorities;
- bringing the level of collection of value added tax to 75% due to the full automation of its collection processes;
- reduction of up to 2 times the time spent by taxpayers for the preparation and submission of tax reports, payment of taxes.
The project implementation period is from 2022 to 2027. The State Tax Committee is responsible for coordinating its implementation.
“The project will expand the tax base, which will reduce the informal sector of the economy, which is currently estimated at about 50% of GDP, increase tax revenues, and help local firms and companies create new jobs using a more efficient tax administration system” , — noted in June 2021 the head of the World Bank office in Uzbekistan, Marco Mantovanelli.
