Uzbekistan: Presidential decree introduces key tax reforms for businesses
The Uzbek Official Gazette featured a Presidential Decree No. PP-292, that mandates the submission of legislative tax proposals by businesses within two months. This decree encompasses several key measures, including:
- Increasing the income threshold for mandatory monthly profit tax payments to 10 billion Uzbek som (equivalent to US$820,371) from the previous 5 billion som (US$410,185).
- Reducing the limitation period for claiming tax liability to three years, down from five years.
- Generally eliminating the procedures for suspending special VAT registration certificates.
- Abolishing the use of the tax break coefficient in refunding negative VAT amounts.
- Transferring cases involving the tax authorities from economic courts to administrative courts.
- Introducing a business reliability rating system, effective from January 1, 2024, which exempts highly-rated businesses from most tax audits.
- Implementing prohibitions on certain actions by tax auditors during filmed field audits.
Source: lex.uz
