Tashkent, Uzbekistan (UzDaily.com) - The post of economist Abdulla Abdukadyrov was recently published on the social network Facebook, in which, in particular, he expresses his personal opinion on the taxation system.

The economist argues that in our country there is a decline in business activity of entrepreneurs due to the rising cost of financial resources, while simultaneously increasing the tax burden.

The State Tax Committee of the Republic of Uzbekistan represents the official position regarding this issue.

According to the resolution of the President of the Republic of Uzbekistan UP-5468 dated June 29, 2018, from January 1, 2019, within the framework of the Concept for Improving the Tax Policy of the Republic of Uzbekistan:

Firstly, the tax burden on the wage fund has been reduced by:

the introduction of a single tax rate on personal income in the amount of 12%;

insurance premiums of citizens to the extra-budgetary Pension Fund (8%) were canceled;

The rates of the CAP were reduced from 15 to 12% (except for budget organizations and legal entities with a state share in the authorized capital of 50% or more).

Secondly, the taxation of taxpayers of generally established and simplified taxes is improved with the optimization of taxes on turnover (revenue), as well as the criteria for the transition to a simplified tax regime through:

cancellation of obligatory deductions to state trust funds levied on turnover (revenue) of legal entities in the amount of 3.2%;

reducing the tax rate on legal entities from 14% to 12%;

a reduction in the tax rate on income charged at the source of payment on income in the form of dividends and interest from 10% to 5%;

Third, measures are being implemented to reduce the negative impact of improving tax policy on taxpayers of the simplified tax regime by lowering the tax rate on corporate property from 5% to 2%.

The numbers speak for themselves - the tax burden is noticeably reduced.