Uzbekistan abolishes anti-crisis tax incentives from 1 January
Tashkent, Uzbekistan (UzDaily.com) – Uzbekistan abolished anti-crisis tax incentives from 1 January 2020.
The ban on tax authorities’ tax audit of business entities, previously conducted only within the framework of criminal cases and in connection with the liquidation of a legal entity, is lifted.
The application of increased rates of property tax and land tax on unused production areas, non-residential structures is resumed.
When a loan (financial assistance) is provided without an obligation to pay interest income to the lender, income determined for tax purposes on the basis of the refinancing rate (basic rate) will be included in the total income when calculating income tax and turnover tax.
The amount of non-taxable personal income tax material aid to the employee is returned to the level established by the Tax Code - 4.22 minimum wages.
The rate of social tax for microfirms and small enterprises will remain the same - 12%.
Catering enterprises and specializing in the provision of premises for rent - the payers of the turnover tax will, as before the provision of benefits, pay turnover tax.
Individuals will resume payment of tax on income received from the provision of real estate for rent.
For tax purposes, the minimum rental rates will be applied for individuals who lease premises and vehicles.
The State Tax Committee will begin to fine for failure to submit tax reports within the timeframe determined by the Tax Code.