The CCI hosts discussion of new draft Tax Code
05/12/2019 19:55
The CCI hosts discussion of new draft Tax Code
05/12/2019 19:55
Tashkent, Uzbekistan (UzDaily.com) - Today, on 5 December 2019, a round table was held at the Chamber of Commerce and Industry under the chairmanship of the head of the Chamber of Commerce and Industry A. Ikramov to discuss the new draft Tax Code, the CCI press service reports.
It was attended by Deputy Minister of Finance D. Sultonov, Deputy Chairman of the State Tax Committee O. Faiziboev, deputies of the Legislative Chamber of the Oliy Majlis of the Republic of Uzbekistan of the Committee on Budget and Economic Reforms and business entities.
The revised draft Tax Code is aimed at ensuring the stability of tax legislation and the direct application of norms. Among the tasks is the maximum restriction of reference norms and by-laws governing taxation issues, including the establishment of tax rates and other mandatory payments.
Sultanov in his speech noted that, unlike the current version of the code, the responsibility of tax authorities has been strengthened. Thus, a mechanism is provided for the timely return of the amount of excessively collected tax based on the results of a tax audit. In particular, in the event of a cancellation by a higher tax authority or a court of a decision of a tax authority taken as a result of a tax audit, the amounts recovered or paid for taxes and financial sanctions under this decision shall be refunded based on interest calculated based on the Central Bank refinancing rate for the period collection (payment) of these amounts.
The structure of the current Tax Code, which provides for the division into general (tax administration issues) and special (basic rules for calculating and paying taxes) parts, has been preserved.
During the round table it was noted that the draft Tax Code in the new edition takes into account eight areas, including generally accepted international and taxation standards, taking into account the experience of other countries, as well as the findings of local and international experts. Special attention is paid to value added tax and the innovations of its calculation and VAT refund. It also provides for a new procedure for conducting tax control, which entitles tax authorities on the basis of a risk analysis, that is, without the intervention of an inspector, appoint desk and field audits and a tax audit.
During the discussion, the Deputy Chairman of the State Tax Committee E. Fayziboev informed the participants about the innovations in calculating and refunding the amount of VAT and on the use of electronic invoices in the system of settlements, online cash registers, the use of which on the basis of the decision of the Cabinet of Ministers of Uzbekistan, from 2020 all business entities will be required fill out electronic invoices.
The head of the CCI of Uzbekistan A. Ikramov proposed to develop a roadmap by the end of this year on the use of electronic invoices in mutual settlements of business entities in hard-to-reach areas of Internet and WIFI reach.
Entrepreneur A. Akhmedbaev recommended amending article 244 “Procedure and deadlines for filing a complaint about decisions of tax authorities taken as a result of inspections” and proposed to extend the deadline for filing a complaint for decisions of tax authorities based on field tax audits and tax audits by 1 year.
In conclusion, A. Ikramov stated that the proposals and comments of the CCI taking into account the opinions of entrepreneurs on the exclusion from the project of counter-checks of business entities, as well as regarding Part 2 of Article 117 of the draft, that is, “The arrest of property of taxpayers for tax debt is carried out by court decision” , were adopted by the authors of the Tax Code.
During the event, specialists discussed in detail with entrepreneurs the amendments to the draft law on the Tax Code in the new edition. The participants expressed a number of opinions and suggestions that will be taken into account in the process of further improvement of the bill.
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