At the moment, the Chairman of the Tax Committee, Sherzod Kudbiev, is participating in the next XXXI meeting of the Coordination Council of the Heads of Tax Services of the CIS member states (SXRMK) in Bishkek city.
At the event, the Council is discussing digital solutions for covering the VAT amount and ensuring transparency in VAT administration payments.
It is noteworthy that the implementation of digital solutions in VAT administration in Uzbekistan is positively affecting the transparency of the tax system, combating tax violations, and saving time and resources in business.
As a result of the implementation of the electronic invoice system, the taxable goods turnover increased 6 times compared to the year 2019. Just from paper, 10 billion Uzbek soms were saved. According to calculations, the saved time accounts for more than 14,000 hours (or more than 1.5 years).
The VAT certificate is issued within 7 days after automatically checking the taxpayer against 13 risk criteria. Business entities automatically recognized as VAT payers are issued VAT certificates without specifying the level of tax risk. In one year, the number of VAT payers increased from 188.5 thousand to 197.8 thousand, nearly growing by 5 percent.
It is possible to apply for a VAT refund at the time of submitting the tax report. The refund period has been reduced from 60 days to 30 days, and for certain categories of taxpayers - VAT is refunded in an expedited manner within 7 days. For entrepreneurs with a high stability rating (AAA), VAT is refunded within 1 day without inspections, accounting for 18 percent of the total refunds.
