Three-day seminar is conducted by the State Tax Committee of Uzbekistan and attended by representatives of Ministry of Finance and Ministry of Justice, State Customs Committee, State Statistics Committee, Chamber of commerce and industry of Uzbekistan, as well as businesses.

The seminar will be held in connection with adoption of the presidential resolution “On forecast of main macroeconomic figures and parameters of the State Budget of Uzbekistan” on 25 December 2012.

In line with the document, income tax on lowest scale for individuals was cut from 9% to 8% from 2013, which is directed at increasing income and purchasing power.

At the same time, the scale of taxation on income groups is determined based on minimal salary, set on 1 January 2013, and it will not be changed within a year even the size of minimal salary increases.

The government also set order of calculation of fixed tax rate for individual entrepreneurs, according to which the tax is calculated based on minimal salary, set on the beginning of the year, and it will not indexed. At the same time, the government indexed rates of land tax, property tax for individuals and use of water resources.

Participants familiarized with changes and amendments to Tax Code of Uzbekistan, which was introduced by the government. In particular, the government decreased periodicity of submitting of tax and mandatory payments reports, abolished intangible assets from taxation base. In line with changes, controlling bodies should inform enterprises on upcoming inspection a 30 days prior its term.

According to changes, income after tax received by family enterprises will not be taxed. It said that family businesses will pay single tax payment and cannot change taxation order.