Baku, Azerbaijan, Sept. 14
By Fakhri Vakilov-Trend:
The share of electronic commerce in the country's total economy in Uzbekistan can reach up to 50 percent by 2040, stated at a press conference of the Ministry of Economy and Industry of Uzbekistan Trend reports citing Uzbek media.
According to representatives of the Ministry of Economy, by 2030, the share of electronic commerce in the country's economy can reach 20 percent, and by 2040, already 50 percent of the economy can be electronic commerce.
Uzbekistan plans to establish a value added tax (VAT) for foreign organizations providing electronic services to individuals.
Foreign companies providing electronic services will have to be registered with the tax authority, submit monthly reports through a personal taxpayer account, and also pay VAT on the cost of services provided to individuals in Uzbekistan in electronic form.
Today, e-commerce in Uzbekistan is less than 1 percent of GDP. In total, electronic trade by business entities in the country amounts to $1.2 billion.