How will the state support entrepreneurs in the difficult period associated with coronavirus?
03/04/2020 23:10
How will the state support entrepreneurs in the difficult period associated with coronavirus?
03/04/2020 23:10
Tashkent, Uzbekistan (UzDaily.com) - The President of Uzbekistan signed the Decree “On additional measures to support the population, sectors of the economy, and business entities during the coronavirus pandemic.”
As noted in the document, tour operators, travel agents and tourism entities providing hotel services (accommodation services), Uzbekistan Airways JSC and its structural divisions, Uzbekistan Airports JSC and Uzaeronavigatsiya Center State Unitary Enterprise from April 1 to December 31, 2020 are exempt from paying land tax from legal entities and property tax of legal entities.
At the same time, it was established that the above entities pay social tax at a reduced rate of 1 percent. Until the end of 2020, payers of value added tax, the turnover on the sale of goods (services) of which does not exceed 1 billion soums per month and using electronic invoices, are entitled to calculate and pay value added tax on a quarterly basis.
According to the document, the procedure for applying increased property tax and land tax rates in relation to unused production areas, non-residential buildings, including those identified before April 1, 2020, as well as interest and penalties for collecting debts arising from the application of increased rates for specified taxes.
The calculation of a fixed amount of personal income tax and social tax is suspended for individual entrepreneurs who have been forced to suspend their activities for the period of quarantine measures, without having to submit a certificate of state registration, with notification of suspension of the activities of the state tax service through a personal taxpayer account.
The right is granted for interest-free deferment (installment plan) of taxes for a period up to October 1, 2020 with notification of tax authorities to micro-firms, small enterprises and individual entrepreneurs who have suspended their activities and (or) whose proceeds from the sale of goods (services) are reduced by more than 50 percent compared with the monthly average for the first quarter of the current year: without submitting an application to local government bodies on turnover tax, property tax, land tax, water tax resources - with their subsequent payment in equal shares within 12 months; social tax - with its subsequent payment in equal installments within 6 months.
The current excise tax rates on alcohol, alcohol, including wine and beer, as well as excise tax on the sale of gasoline, diesel fuel and gas to the final consumer are maintained until the end of this year. Starting from April 1, 2020, the mandatory requirement for legal entities to make prepayments for gas and electricity will be reduced to 30 percent.
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