Uzbekistan: Presidential decree introduces key tax reforms for businesses
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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.