Business entities received a VAT refund in the amount of more than 9 trillion soums
Tashkent, Uzbekistan (UzDaily.com) -- The wide opportunities created in the field of entrepreneurship as a result of tax reforms and transformations have a significant impact on increasing the share of tax revenues to the state budget.
In particular, from January to July last year, the state budget received 9.9 trillion soums of VAT from the sale of goods (services) by VAT taxpayers. For 7 months of this year, this amount increased by 4.3 trillion soums and amounted to 14.2 trillion soums.
According to the current legislation, the procedure for compensating the negative difference in value added tax for all business entities introduced in August 2020 contributes to an increase in their working capital.
In accordance with the document, the procedure for accelerated reimbursement (within 7 days) of the negative difference in value added tax and reimbursement of tax amounts in a general manner (within 60 days) was determined. So, over the past period of this year, based on 9.8 thousand applications received from business entities, 9 trillion soums were reimbursed, of which 3 trillion soums were refunds to exporters.
However, despite the benefits provided, there are organizations that carry out dubious transactions that abuse the right, whose activities negatively affect the economic development of the country.
With the help of an automated system for analyzing and assessing tax risks, a list has been formed that includes 802 "dubious" organizations with a high level of risk of tax evasion.
Cases of attempts of unjustified VAT refunds by enterprises carrying out financial transactions with these "dubious" organizations have been recorded.