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Finance 05/10/2022 Samarkand hosts event on VAT issues
Samarkand hosts event on VAT issues

Tashkent, Uzbekistan (UzDaily.com) -- In the city of Samarkand, with the participation of international experts, an international round table "Reform of tax and customs policy" is being held, dedicated to discussing the experience of reforming tax policy, administration, as well as the digitalization of revenue administration.

It was noted that holding such events on a regular basis contributes to the formation of an effective platform for direct interaction between fiscal authorities, exchange of experience in the field of reforms, discussion and adjustment of issues being worked out for their effective and accelerated implementation, taking into account the accumulated experience of participating and other countries.

On the first day of the round table, it is planned to discuss tax policy measures in the field of value added tax, income tax, personal income tax and property tax.

The round table participants discussed the effectiveness of the incentives provided, the shortcomings of differentiated rates and the levels of thresholds for the transition to VAT, including measures taken to expand the tax base, combat tax evasion and improve taxpayer compliance.

Thus, it was noted that the exemption and application of reduced tax rates jeopardize one of the principles of the tax - neutrality, the main benefits from which are received by non-consumers, as end users of goods and services, since lowering rates or introducing their differentiation does not ultimately reduce the cost goods sold.

And if the prices of goods tended to decrease due to benefits or reduced rates, then wealthier citizens, who consume more goods and services, benefited from this.

The session discussed measures being taken to create conditions for increasing voluntary compliance with the law, combating business fragmentation and tax evasion through “one-night firms” that provide their counterparties with an opportunity to receive unjustified tax benefits. Experts from participating countries shared their experience in these areas.

The roundtable will also include sessions on tax policy on direct taxes and property tax.

 

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