Some tax rates change in February 2021. Gasoline prices to rise again

In April-May of this year, it was planned to increase some of the excise tax rates in the national currency. However, due to the pandemic, these measures were delayed. Indexation of the excise tax rates can be carried out in February 2021.

According to Deputy Minister of Finance, Dilshod Sultanov, the change in the excise tax rate will mainly affect the cost of alcohol, tobacco and gasoline.

“It is proposed to abolish import excise tax on 73 items. In particular, food products (20 types of products: juices, cheese, cottage cheese, margarine, flour confectionery, sausages and similar meat products, etc.) and electrical appliances (35 types of products: refrigerators, televisions, gas cookers, vacuum cleaners, washing machines, etc.). This will make it possible to ensure equal conditions for entrepreneurs,” he said.

In addition, in 2021, it is proposed to reduce the excise tax on mobile services to 15 percent. The current rate is 20 percent.

To note, the main aims of the tax policy in 2021 is to maintain VAT rates (15 percent), income tax rates (15 percent, 20 percent for certain categories), income tax on individuals (12 percent), property tax on legal entities (2 percent), land tax for agriculture (0.95 percent), social tax (12 percent for economic entities and 25 percent for budgetary organizations), turnover tax (4 percent of base rate).