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Finance 09/04/2019 State Tax Committee: 5.2 trillion soums received from VAT in 1Q
State Tax Committee: 5.2 trillion soums received from VAT in 1Q

Tashkent, Uzbekistan (UzDaily.com) -- The State Tax Service bodies are striving to transform the sphere and create the necessary conditions for all taxpayers. In particular, work is continuing to simplify the administration of value-added tax, the press service of the STC said in a statement.

So out of 9 existing today only 5 applications of this tax report remain. And invoices from a paper variant are transferred in electronic. The corresponding test is carried out in Navoi, Syrdarya regions, as well as in the city of Chirchik, Tashkent region.

As a result, in the first quarter of this year alone, the number of entrepreneurs paying this tax increased 5 times, passing the mark of 35 thousand business entities. And revenues from VAT amounted to 5.2 trillion soums, showing a twofold increase compared to the same period last year.

At the same time, almost out of 26 thousand, 7.4 thousand who switched to paying VAT, submited zero reports, and 5.5 thousand submited a negative calculation.

During the video-selective meeting chaired by President Shavkat Mirziyoyev, dedicated to the issues of performance of forecasts of revenues to the State budget and exports, as well as ensuring the strict implementation of forecast indicators for the first half of 2019, work was done to create simple and effective mechanisms for calculating the value-added tax.

In order to develop a draft resolution on the full transfer of the administration of value-added tax into electronic format and create the necessary conditions for healthy competition to business entities, work has begun with a group of experts from the World Bank.

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