Tashkent, Uzbekistan (UzDaily.com) - By the Resolution of the Cabinet of Ministers from 20 June 2020, the Road Map was approved to reduce the share of the shadow economy in the Republic of Uzbekistan.

Here are the main directions of its implementation.

1. Carrying out structural changes in management aimed at reducing the shadow turnover.

In the structure of the State Tax Committee and its regional divisions (within the approved staffing units), departments for the taxation of individuals based on the declaration, taxation of electronic commerce, reduction of the shadow economy and international integration will be created. STC also has the task of improving the system of accounting and VAT refunds.

And in the structure of the State Committee on Statistics (within the approved staff units), it is planned to create departments for assessing and recording the shadow economy and hidden unemployment.

2. The widespread adoption of digital technology and labeling in industries and sectors of the economy.

In this direction, the coverage of online counters of business entities will be expanded, and the list of marked goods will be gradually expanded.

It is planned to develop mechanisms to reduce the illegal activities of individual entrepreneurs, as well as to identify and tax the activities of entities involved in electronic commerce.

The system for monitoring the effectiveness and quality of tax audits will be organized on the basis of the “Case management system”.

3. The expansion of non-cash turnover in the economy.

The Central Bank has been given the task of integrating the payment systems Humo and Uzcard. The number of payments using the QR code will increase, payments by business entities B2B will be carried out in a system of continuous settlements.

In transactions with real estate and vehicles, it is envisaged to expand the use of modern banking services.

4. Increasing the coverage of the population with banking services.

To do this, they will simplify the procedure for providing consumer loans by amending the Law on Consumer Credit. The development of non-bank credit organizations is also envisaged.

5. A tangible decrease in the share of the shadow economy in foreign trade.

Until 1 August, the Ministry of Investment and Foreign Trade and the State Customs Committee will analyze the state of the shadow economy in foreign trade, develop and submit proposals to the Cabinet of Ministers to reduce it.