Order on payment of single tax for wholesale organizations with advanced payments approved

Ministry of Finance, State Tax Committee and Central Bank adopted a corresponding resolution on approval of regulation.

As earlier reported, Uzbekistan introduced 5% advanced payment from revenue from each trade operations for wholesale enterprises, excluding drug organizations and specialized wholesale organizations, members of the Wholesale Trade Enterprises Association.

The regulation regulates such issues as registering wholesale enterprises, which pay single tax with advanced payment, order of calculation of advanced payments and reflecting advanced payments in tax and financial reports.

The regulation will come into effect from 24 January 2010.