Tashkent, Uzbekistan (UzDaily.com) -- Acceptance of applications for refund of value added tax (VAT) from the information system of the State Tax Committee to the information system of the Ministry of Finance in accordance with the Resolution of the Cabinet of Ministers from 14 August 2020 No. 489 “On improving tax administration of foreign legal entities for value added tax” and the payment process has been improved.

Prior to this change, when the State Tax Committee returned an excess amount of VAT to the taxpayer’s bank account, the conclusion and the documents attached to it were paid by the courier service units by submitting them to the Treasury and including the Treasury employees in the program with the intervention of the human factor.

This process required a certain amount of time for VAT refund and human factor intervention. Now, payment orders generated on the basis of applications for VAT refunds submitted through the personal account of a new taxpayer will be sent to the information system of the Ministry of Finance in electronic form and executed automatically without a human factor.

For example: the conclusion of the State Tax Committee dated October 2, 2020 No. 1001959893 for the enterprise LLC “UZTEX GROUP” (2.45 billion soums) was received by the Treasury of the Ministry of Finance at 16:37 and was paid at 16:50.

This system allows businesses to promptly return excess VAT to a bank account and increase the productivity of entrepreneurs by adding these funds to the company’s working capital.