Calculation of VAT to be simplified

The State Tax Committee, together with a group of experts from the World Bank, has launched a new phase to simplify the mechanism for calculating the value-added tax, the press service of the committee said.

As a result of the work already completed, five applications remain from nine appendices of the VAT report, and the invoices themselves are converted into electronic form.

Thus, only in the first quarter of this year, the number of entrepreneurs paying VAT increased 5 times, passing the mark of 35,000, and VAT revenues amounted to 5.2 trillion soums, showing an increase over the same period last year twice.

At the same time, out of almost 26 thousand taxpayers who switched to paying VAT, 7.4 thousand passed zero reports, and 5.5 thousand passed a negative calculation.

In addition, during a videoconference meeting chaired by President Shavkat Mirziyoyev, work was done to create simple and effective mechanisms for calculating VAT.