Significant changes to be introduced to the Tax system in 2019

A workshop on the significance of activities carried out in the tax system of the country was held at Tashkent city Prosecutor’s Office.

In compliance with the presidential decree “On the Concept of improving the tax policy of the Republic of Uzbekistan” dated June 29, 2018, entities with revenues of more than 1 billion soums, regardless of the number of employees, will be transferred to the payment of the generally established tax and value added tax starting from January 1, 2019.

During the workshop, A. Pulatov, Prosecutor of Tashkent city, Sh. Turdiyev, First Deputy Head of the State Tax Administration of Tashkent city, and other officials provided entrepreneurs with detailed information on the significance of the decree and innovations to be introduced in the coming year.

Several factors, including an excessively large gap between the tax amounts imposed on payers of the single tax payment and payers of generally established taxes does not encourage the consolidation of small business and development of healthy competition between small and large businesses.