Amendments to the legislation on turnover tax
Tashkent, Uzbekistan (UzDaily.com) -- A single tax rate of 4% is set for all categories of taxpayers of turnover tax. This was reported by the press service of the State Tax Committee.
At the same time, reduced tax rates for enterprises located:
- in remote and mountainous areas in the amount of 1%;
- in other settlements - 2% (including e-commerce);
- in cities with a population of 100 thousand people or more - 3%.
From 2023, turnover tax payers have the right to voluntarily choose to pay the tax in a fixed amount. Wherein:
with the amount of total income not exceeding 500 million soums, the right to choose to pay a tax in a fixed amount of 20 million soums per year is given,
with a total income of over 500 million soums - 30 million soums per year.
Tax in a fixed amount is paid in equal monthly installments no later than the 15th day of the month following the calendar month.
To switch to the payment of this tax, the taxpayer must send a notification to the tax authority at the place of tax registration no later than 10 days before the beginning of the next month. Taking into account that this rule comes into force on 1 January 2023, taxpayers who switch to paying tax in a fixed amount for the first time are entitled to submit a notification to the tax authorities no later than 25 January 2023.
Newly created taxpayers have the right to choose to pay tax in a fixed amount upon state registration.
Refusal to pay tax in a fixed amount is carried out from the beginning of the next tax period.
When switching to paying tax in a fixed amount during the tax period, the amount of tax is determined by dividing the fixed amount by 12 and multiplying the result by the number of months remaining until the end of the current tax period.
If during the tax period the total income of the taxpayer in a fixed amount exceeds 500 million soums, then the amount tax in a fixed amount is recalculated starting from the month of its excess until the end of the current tax period, based on the tax rate established for taxpayers with a total income of more than 500 million soums.
When switching from paying tax in a fixed amount to paying turnover tax and income tax during the tax period, the amount of tax in a fixed amount is subject to payment, taking into account the last calendar month in which the transition to payment of these taxes was made.
Income in the form of dividends received from a taxpayer in a fixed amount is not subject to taxation. At the same time, when switching to VAT payment on a voluntary or mandatory basis, such taxpayers are not granted the right to offset VAT on the balance of goods purchased with VAT.
Taxpayers, including newly created legal entities and newly registered individual entrepreneurs, whose total income during the tax period exceeded 1 billion soums, are transferred to the payment of VAT and income tax from the day the specified amount of total income is reached.