The majority of applications from entrepreneurs regarding the transition to the simplified procedure for calculating and paying value-added tax in Uzbekistan have been approved. This was reported by the press service of the Tax Committee.
According to the information, a total of 5,601 notifications were received from business entities regarding the transition to this procedure.
Based on the results of the review, 4,913 of them were accepted. At the same time, 352 notifications were rejected for not meeting the established requirements. Another 336 notifications were canceled by the entrepreneurs themselves through their personal accounts.
According to the Tax Committee, entrepreneurs whose applications were rejected can clarify their main type of activity and resubmit the notification by contacting their assigned tax inspector.
It is worth recalling that entrepreneurs operating in the field of public catering, trade, and services have been given the opportunity to choose the simplified procedure for calculating and paying value-added tax.
Under this procedure, the VAT rate is set at 6 percent for all turnover from the sale of goods and services. In this case, the right to deduct VAT amounts paid on purchased goods and services is not granted.
Additionally, existing VAT exemptions and preferences, the procedure for refunding part of the tax, do not apply, and the existing negative difference amount is written off.
This procedure cannot be used by enterprises with a state share of 50 percent or more, as well as by large taxpayers. Entrepreneurs must submit a notification through their personal account on the "my.soliq.uz" platform to switch to the system.
