TAX SYSTEM OF THE REPUBLIC OF UZBEKISTAN: A COMPREHENSIVE OVERVIEW

Abstract

This article provides a comprehensive overview of the tax system of the Republic of Uzbekistan. The tax system plays a crucial role in the economic development of any country, and Uzbekistan is no exception. The analysis covers various aspects of the tax system, including its structure, key tax types, tax administration, and recent reforms.

The tax system of Uzbekistan is characterized by a mix of direct and indirect taxes. Direct taxes include personal income tax, corporate income tax, and property tax, among others, while indirect taxes consist of value-added tax (VAT), excise tax, and customs duties. Each tax type is examined in terms of its scope, rates, and applicable regulations.

The article delves into the tax administration framework in Uzbekistan, highlighting the roles and responsibilities of key institutions such as the State Tax Committee and local tax authorities. It explores the tax registration process, tax filing and payment procedures, and the enforcement mechanisms in place to ensure compliance.

Furthermore, the article discusses recent tax reforms undertaken by the Uzbekistan government. These reforms aim to create a more business-friendly environment, attract foreign investment, and stimulate economic growth. Specific reforms addressed include simplification of tax procedures, reduction of tax rates, and the introduction of electronic tax reporting systems.

The analysis also considers the challenges and opportunities within the tax system of Uzbekistan. It examines the efforts made to combat tax evasion, promote transparency, and enhance taxpayer services. Additionally, it assesses the potential impact of ongoing global tax developments, such as the OECD's Base Erosion and Profit Shifting (BEPS) initiative, on the country's tax system.