Uzbekistan Plans To Strengthen Financial Discipline, Revise Tax System
Date
1/17/2024 5:04:47 AM
(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, January 16. The budget
deficit should not exceed 4 percent in 2024 and this task will be
achieved by strengthening financial discipline, President of
Uzbekistan Shavkat Mirziyoyev said, Trend reports.
He spoke at a meeting devoted to the government's priorities for
economic development for 2024.
Many state enterprises failed to send 8 trillion soums ($647.9
million) to the budget in the form of dividends and tax payments in
2023.
It was emphasized that in Sirdarya and Jizzakh tax revenues
increased by 20 percent, while in Khorezm, Bukhara and Kashkadarya
this indicator did not even reach 7 percent.
Out of 18,000 public catering enterprises with the status of a
legal entity, only 2,300 are VAT payers.
At the meeting, the work of tax authorities in the field was
criticized.
In general, it was noted that it is time for a radical revision
of the tax system and the activities of tax officials.
In particular, the work with 40,000 budget organizations will be
transferred from the regions to the newly created Inspectorate of
Budget Organizations under the Tax Committee. This Inspectorate
will be fully digitized and integrated into the electronic system
of the Treasury.
An Inspectorate for collection of tax debts will be created. The
Inspectorate will have the same powers as the Bureau of
Enforcement.
A separate system will be created that will work with 80 of the
largest enterprises and 35 commercial banks, which provide 50
percent of tax revenues to the Uzbek budget.
For this purpose, a new structure will be created within the
Inspectorate for Large Taxpayers, which will work directly with the
Ministry of Economy and Finance.
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