The Tax Code has been amended

Changes and additions to the Tax Code were approved on the last day of the outgoing year. The Ministry of Finance informed about this by publishing an Information Notice on changes in the procedure for taxation of legal entities and individuals, as well as the application of customs benefits.

buxgalter.uz publishes the main provisions of the document:

At tax rates. Income tax rates remain unchanged (15%, for certain categories – 20%), personal income tax (12%), corporate property tax (1.5%), land tax for agricultural land (0.95 %), social tax (budgetary organizations – 25%, the rest – 12%).

For value added tax:

1. The category of taxpayers, the procedure for calculating and paying tax, as well as the deadlines for submitting tax reports are retained.

2. From January 1, 2023, the tax rate is reduced from 15% to 12%.

3. The terms for conducting a desk tax audit of the validity of the amount of value-added tax to be reimbursed are reduced from 60 to 30 days.

4. Canceled:

a) from April 1, 2023, benefits provided for:

– geological services provided within the framework of annual state programs for the development and reproduction of the mineral resource base at the expense of the budget;

– turnover on the sale of postage stamps, stamped postcards, envelopes;

– turnover on the implementation of research and innovation work carried out at the expense of the budget.

b) from July 1, 2023, benefits provided for the services of security units of the National Guard of the Republic of Uzbekistan.

5. Bodies of state power and administration may be recognized as taxpayers of value added tax on the basis of a decision of the President or the Cabinet of Ministers of the Republic of Uzbekistan.

6. From January 1, 2023, a procedure is introduced providing that the amount of tax paid (payable) on goods (services) actually received, which is not accepted for offset due to the suspension of the certificate, in the event of renewal of the certificate, is subject to adjustment (attribution offset) both from the taxpayer and his buyers for the period when the certificate was suspended.

7. Taxpayers registered with the Interregional State Tax Inspectorate for Large Taxpayers are granted the right to offset the amounts of value added tax to be reimbursed from the budget against the payment of value added tax upon import of goods.

The offset of value added tax will be carried out automatically by the tax and customs authorities. To do this, a taxpayer participating in foreign economic activity, when registering a customs declaration, must make a note on the payment of value added tax upon import at the expense of the amount subject to reimbursement.