Decree on measures to reduce the shadow economy adopted in Uzbekistan
29/10/2020 15:43
Decree on measures to reduce the shadow economy adopted in Uzbekistan
29/10/2020 15:43
Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev signed a decree "On organizational measures to reduce the shadow economy and improve the efficiency of tax authorities."
According to the decree, from 1 January 2021 to 1 January 2022, incomes of small businesses in the public catering sector received from individuals using bank cards and contactless payments are not included in the total income in order to make the transition to the payment of general taxes.
The document notes that the turnover tax rate for realtors from 1 January 2021 will be reduced from 25% to 13%.
From 1 January 2021, construction companies are allowed to urgently hire workers without concluding a contract, with cash payment. At the same time, the volume of such payments should not exceed 10% of the total volume of the wages fund.
The head of Uzbekistan instructed to create a special commission, which, among other things, will create conditions to stimulate business out of the shadows, measures to simplify the tax regime, as well as to expand cashless payments.
The document notes that the Central Bank, together with commercial banks, will expand the network of ATMs and multifunctional self-service terminals to 10,000 by 1 January 2021.
The State Tax Committee of Uzbekistan will develop a procedure for conducting tax audits. At the same time, the procedure will envisage ensuring the openness and transparency of inspections, and it is also planned to radically simplify procedures and strengthen the responsibility of inspectors.
The Office for the Analysis of the Shadow Economy is being created at the Ministry of Economic Development and Reduction. A department for organizing work to reduce the shadow economy will be formed in the Ministry of Finance. At the same time, a Tax Control Department will be created in the State Tax Committee.
By his decree, the head of Uzbekistan approved a "road map" to reduce the volume of the shadow economy. Within the framework of this document, measures will be taken to abolish exclusive rights, individual benefits and preferences, etc.
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