President’s words inspired entrepreneurs
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As it was noted in the Message, according to the new Tax Code, many innovations have been introduced since this year. In particular, types of taxes are reduced from 13 to 9. Simplified tax payment mechanisms have been introduced with possibility of deferred or installment payments.
For the first time, procedure for returning part of value-added tax to entrepreneurs in selling products is being implemented. Previously, this procedure was applied only in exporting products. This will leave 3.4 trillion UZS at the disposal of entrepreneurs or 2.5 times more than the last year.
From now on, if entrepreneur does not return excessively paid taxes within the prescribed period, he will be paid funds from the budget based on the main refinancing rate of the Central Bank.
I think entrepreneurs understand the significance of this innovation better than anyone else, and this will undoubtedly make them happy, says Shavkat Mirziyoyev.