A package of important benefits for the population and business
26/05/2020 20:10
A package of important benefits for the population and business
26/05/2020 20:10
Tashkent, Uzbekistan (UzDaily.com) -- Reducing the tax burden by exempting from taxes, writing off penalties and fines, granting deferrals and other measures to support entrepreneurs of Uzbekistan is reflected in Decree of the President of Uzbekistan No. UP-5996 “On Next Measures to Support the Population and Entrepreneurship in period of the coronavirus pandemic” from 18 May 2020. This was reported by the press service of the State Tax Committee.
From 1 June to 1 September, small business and a number of business entities are exempted from paying two types of taxes - land and property.
Among beneficiaries:
- markets and shopping malls;
- cinemas;
- catering enterprises;
- public transport enterprises;
- sports and recreational facilities, as well as legal entities engaged in the transportation of passengers, the provision of domestic services, the provision of premises for rent, including for banquets.
Today, there are 142.5 thousand small businesses in the country that are exempted from paying 332.8 billion soums to the budget. This is the total amount for two taxes - on property and land tax.
Small businesses are deducted the amounts of property tax and land tax for April and May, for which interest-free deferment (installment plan) is provided in accordance with No. UP-5969 of 03/19/2020 and No. UP-5978 of 04/03/2020.
A total of 4,259 entities wishing to exercise this right have applied to the tax authorities today. It was provided to 2,422 taxpayers whose deducted amount is 123 billion soums. Another 1,837 appeals worth 109 billion soums are under consideration.
Small businesses are charged the amount of interest and fines accrued on land tax and property tax, as of 15 May 2020, formed on 1 January 2020.
According to the estimates of the tax authorities, from the beginning of this year and during the pandemic of the small business coronavirus, fines and penalties in the amount of 4.6 billion soums have accumulated. To all 16,251 entities this debt has been fully written off.
From 1 May to 1 July 2020, for micro-firms and small enterprises, the social tax rate is reduced from 12% to 1%.
The tax burden has been reduced for 328,782 taxpayers of small businesses and micro-firms, in which 1,681,769 employees are employed. The total social amount is 601 billion soums, but in view of the significant reduction in the rate, taxpayers will pay only 50 billion soums to the budget. The granted privilege is equal to 551 billion soums.
In order to prevent a decrease in the working capital of microfirms and small enterprises, the collection of taxes, penalties and accrued fines for violation of tax legislation is suspended until 1 September 2020.
According to the tax authorities, as of 15 May 2020, the debt of 79,983 micro-firms and small enterprises payable to the budget amounted to 191 billion soums.
The state tax service authorities withdraw collection orders for debiting and transferring funds from their bank accounts as of 15 May 2020.
In addition, taxpayers are entitled to revoke payment orders for the fulfillment of tax obligations that were not executed as of 15 May.
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