Thursday, 25, July, 2024

The Government of Uzbekistan plans to reduce the number of taxes for doing business, Deputy Minister of Economy Shukhrat Ismailov said.

In Uzbekistan there are a number of tax incentives for starting business, getting credit, but in terms of paying taxes business entrepreneurs face "certain problems."

"It is no accident that in the World Bank's Doing Business on paying taxes indicator Uzbekistan is ranked quite low - 141. This is due to the fact that the quantity of taxes is quite high, about 146," Ismailov said.

In the developed world, there are about 4-5 types of taxes, he added. We are considering together with the Tax committee and Finance Ministry, to reduce number of taxes and thus to create a simple the mechanism for calculating and paying taxes, he underscored.

Starting from January 1, 2018, a modern form of tax control - tax monitoring will be introduced, which provides for an extended information exchange between tax authorities and taxpayers, providing them with assistance in resolving current taxation issues.

In addition, bona fide businesses when faced with financial difficulties - may be granted tax holidays in the procedure prescribed by law, and a judicial procedure for levying taxes and other mandatory fees identified following office tax audits.

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