Entrepreneurs in Uzbekistan to be notified of transition to generally established taxes

By  Trend

The economic entities and individual entrepreneurs in Uzbekistan, who have, or are expecting a commodity turnover of more than 1 billion soums at the end of the reporting year, will switch to the payment of generally established taxes beginning from January 1, 2019, Gazeta.uz reported.

The State Tax Committee of Uzbekistan announced that notifications about the new tax system would be sent to entrepreneurs through their personal accounts on the tax service website, by mail or by hand.

The new tax structure for each operating entity, including the methods of tax reporting, tax calculation, tax payment deadlines, procedures of use of electronic reporting and exchange of invoices, and determination of the need for accountants will be shown in the notification.

It will be necessary to register as a payer of value added tax within the period from date of acceptance of the notification to December 12 of the current year.

The registration can be implemented either through the personal account of the taxpayer on the website of the State Tax Committee (STC), or at the state tax inspectorate at the place of tax registration.