(MENAFN- Trend News Agency) The State Tax Committee has provided information on changes to
value added tax, profit tax, turnover tax, excise tax and personal
income tax, trend reports citing kun.uz .
Reportedly, the revenues of the 2023 budget are planned based on
the main macroeconomic indicators, the expected prices of raw
materials on the world market, changes in the tax policy, and the
improvement of the tax and customs administration.
In the tax policy set for 2023, the basic tax rates of profit
tax are kept at 15%, personal income tax at 12%, and property tax
at 1.5%.
At the same time, in order to increase investment attractiveness
in the republic, it is proposed to make a number of important
changes in determining the tax policy of 2023.
The following are proposed in terms of lowering and unifying tax
rates and creating additional facilities in order to further
improve the business environment.
At the same time, it is predicted that in 2023, the income from
this tax will be 16 trillion soums more than this year.
Also, in order to create additional benefits for entrepreneurs,
the rates of turnover tax from 4% to 25% for 14 types of activity
are unified and set to a single 4%.
For information, during the conversation with businessmen, the
President put forward the proposal to categorize enterprises with
annual turnover up to 1 billion soums as micro, up to 10 billion
soums as small and up to 100 billion soums as medium businesses.
Based on this, a number of benefits are offered to businessmen.
In this case, depending on the region and type of activity,
reduced rates of 1% to 3% will be maintained.
Entrepreneurs with a turnover of up to 500 million soums have
the right to pay a fixed tax of 20 million soums a year, and those
with a turnover of more than 500 million soums – 30 million soums
in equal monthly installments.
These taxpayers are exempted from accounting and dividend
tax.
Along with this, in order to stimulate the development of small
and medium-sized businesses, it is planned to reduce the profit tax
rate by 2 times for 1 year for entrepreneurs belonging to the
category of small businesses whose turnover exceeds 1 billion
soums.
To ensure the stability of local budget revenues, fixed tax
rates and bases are supposed to be indexed within inflation or by
10%. In this case, it is planned to implement the indexation of
excise tax rates from February 1, 2023.
The gradual abolition of tax benefits is also ongoing.
In particular, from April 1, 2023, exemptions from VAT for a
number of services provided at the expense of budget funds are
being canceled.
At the same time, the expiration of the tax and customs
privileges granted by other regulatory legal documents was also
taken into account in the budget revenues.
Due to the improvement of tax and customs administration, the
amount of approximately 1% of the gross domestic product or 9.2
trillion soums is provided in the additional planned budget
revenues.
Changes to the excise tax legislation
From February 1, 2023, the excise tax rates on oil products and
manufactured alcohol and tobacco products will be indexed to
10%.
Starting from January 1, 2023, the excise tax on the production
of alcohol products (except soft drinks) will be calculated based
on the percentage of ethyl alcohol in the excised product. In this
case, the unit of measurement of the produced alcohol product was
defined as“liter” (previously it was“daL”).
In 2022, the rate of excise duty on vodka, cognac and other
alcohol products was set at 138,000 soums per 1 dal (or 13,800
soums per 1 liter).
In 2023, the excise tax rate for these products is set at 34,500
soums per liter of ethyl alcohol without added water in the excise
goods.
For example, the share of ethyl alcohol in vodka is 40%, the
amount of excise tax for 1 liter is 13,800 soums (34,500 soums x
40%), and from February 1, 2023, taking into account indexation –
15,200 soums (38,000 soums x 40%).
From January 1, 2023, the rate of excise tax on the following
will be increased by 5 times and will amount to 7,450 soums per 1
liter:
- rectified ethyl alcohol from food raw materials;
- technically rectified ethyl alcohol from etheraldehyde
fraction;
- ethyl alcohol from the main fraction.
From January 1, 2023, the excise tax rates on the import of
alcohol and tobacco products have been reduced by 5%.