The seminar was co- organized by UNDP “Public Finance Reform in Uzbekistan” Project, National Association of microfinance organizations and credit unions of Uzbekistan and international charity organization Northwest Medical Teams.

Main objective of microfinance development process is to provide assistance to the broad population groups through transforming crediting into a more effective instrument to support private entrepreneurship. National government is making a significant contribution to facilitating development and strengthening microfinance in Uzbekistan.

In order to strengthen the capacity of microfinance organizations and credit unions, as well as to ensure their integration into financial system and boost completion in financial markets the government has undertaken a number of measures to create favorable tax climate.

This initiative contain feasible targets – upscale activities and services to make microfinance a sustainable component of national financial system as a whole.

This training is arranged to introduce the basic approaches constituting the foundation of elaboration of the revised Tax Code and changes in approaches of tax administration to microredit organizations and credit unions.

The participants were introduced to the general order of calculation and payment of direct, indirect and resource taxes. Separate attention has been given to the features of calculating the profit tax and value-added tax for credit institutions. Also the presentation of the National Association of microfinance organizations and credit unions took place at the seminar.

Representatives of the Ministry of Finance, Ministry, State Tax Committee, independent experts in the field of taxation and tax administration, microcredit organizations, and credit unions, participated in the seminar.

Presentations and discussions at the workshop facilitated answering numerous questions on taxation of microfinance institutions and credit unions in Uzbekistan.