The next stage of tax reforms: improving the issuance of tax and customs benefits
Tashkent, Uzbekistan (UzDaily.com) -- On 3 July 2019, the Uzexpocenter hosted a meeting of the International Press Club on the theme: “The next stage of tax reforms: improving the issuance of tax and customs benefits,” based on changes in tax legislation.
President of Uzbekistan signed a decree “On measures for further streamlining the provision of tax and customs benefits” on 29 June.
The meeting was attended by heads of the Ministry of Investment and Foreign Trade, the Ministry of Finance, the State Customs Committee, the Chamber of Commerce, manufacturers and entrepreneurs engaged in trade and retail activities.
During the discussion, the parties noted that the provision of benefits and preferences to business entities in paying VAT in certain sectors of the economy does not allow creating a full value chain in paying VAT to ensure equal conditions for all participants in the value chain. At the same time, equality for all business entities was emphasized as the main factor for reducing costs in the production of competitive domestic products with prospective import substitution and access to export markets.
Also in the context of the conversation, issues of customs policy were discussed: prerequisites for optimizing import duties were discussed, taking into account a thorough analysis of the foreign trade situation, with a view to stimulating the production of high value-added goods and adherence to the export-import balance. Along with this, it was noted that it is necessary to create conditions under which the investment attractiveness of industries will grow, their industrial potential will increase, which in turn will reduce the need to import finished products.
At the conclusion of the event, the participants, represented by entrepreneurs, experts and government officials, had the opportunity to exchange views on agenda items, ask questions and get comprehensive answers on topics of interest.