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Vice Minister Of The Ministry Of Finance: I Will Not Consider Further Tax Reduction And Reduction

Mar 07, 2019

According to Uzbekistan’s informative news network, the first deputy minister of Uzbekistan’s Ministry of Finance, Ahadek Haydarov, reported that the Ukrainian Ministry of Finance did not consider further reducing the tax burden on individuals and legal entities.

“With regard to further reducing the tax burden on individuals and legal entities, we have not considered it for the time being. Now we are considering further optimizing tax incentives and creating equal conditions for all. That is to say, it is now necessary to create equal conditions for all entrepreneurs, Optimize the effectiveness of tax incentives,” Ahadek Haydarov said at a news conference.

According to him, optimization will involve all types of taxes, such as value added tax, income tax and resource tax.

“Overall, it’s still too early to comment on the results of the tax reform. The results of the first two months show that our income is higher than expected. We believe that after the end of the first quarter, we will get accurate figures. It can be seen that the impact of the new tax concept." The first deputy minister of the Ukrainian Ministry of Finance stressed.

He added that Uzbekistan is actively cooperating with the International Monetary Fund to further strengthen the fiscal and national taxation committee's system of tax policy implementation and tax management.

It is reported that a few days ago, Uzbekistan’s deputy minister Dilshod Sultanov said that Uzbekistan intends to further reduce the property tax. According to him, while reforming the tax system in Uzbekistan, a very specific task was formulated – balancing the tax conditions between enterprises so that each company can grow, regardless of size.

In addition, according to him, the draft new royalty law will be published in early April for public comment.