Just Earth News | @justearthnews | 19 Dec 2023, 02:54 am Print
-1702976049.jpg)
At a meeting of the Legislative Chamber of the Oliy Majlis (parliament) of Uzbekistan, the draft law “on introducing amendments and additions to some legislative acts of the Republic of Uzbekistan in connection with the adoption of the main directions of tax and budget policy for 2024” is being considered.
With this bill, based on the interests of business entities and in order to facilitate them, the tax policy established for 2024 includes the main tax rates - value added tax, profit, income of individuals, property of legal entities, tax on agricultural land, social tax, and sales taxes remain unchanged.
At the same time, in order to create additional benefits for business entities, during a desk tax audit it is prohibited to demand documents from an entrepreneur, enter his premises and territory, or call him.
From 1 January 2024, the statute of limitations for tax obligations is reduced from 5 to 3 years, and the threshold amount of income of entrepreneurs who must pay income tax increases from 5 billion soums to 10 billion soums.
The bill envisages the expansion of the tax base, the abolition of ineffective tax benefits, and the indexation of excise taxes and resource taxes based on the level of inflation.
The adoption of this bill will serve to create additional benefits for business entities, expand the tax base and ensure the completeness of budget revenues, and reduce the share of shadow activities in the economy.
After heated discussions and questions and answers, the bill was adopted by deputies.
- Virtual love: Woman engages with her AI fiancé after 'dating' for five months
- IDF claims Al Jazeera journalist Anas al-Sharif received salary from Hamas
- Gaza: Five Al Jazeera journalists killed in Israeli strike, IDF identifies Anas al-Sharif as Hamas terrorist
- Chinese national arrested for stealing bag from fellow passenger's bag in Dubai-Singapore flight
- Thailand: Police arrest 26 Chinese over illegal loan practices