Excise tax on import of commodity items to be abolished in Uzbekistan

Finance Materials 30 November 2020 17:04 (UTC +04:00)

BAKU, Azerbaijan, Nov. 30

By Klavdiya Romakayeva - Trend:

It is planned to abolish the excise tax on the import of a number of food products and electrical goods in Uzbekistan in 2021, Trend reports referring to the press service of the Ministry of Finance of Uzbekistan.

Next year, it is planned to abolish the excise tax on the import of 73 commodity items, in particular, these are 20 types of food products (juices, cheese, cottage cheese, margarine, confectionery products, sausages, and similar meat products, etc.), 35 types of electrical goods (refrigerators, televisions, gas stoves, vacuum cleaners, washing machines, and others).

According to the Ministry of Finance, a draft law "On amendments and additions to some legislative acts of the Republic of Uzbekistan in connection with the adoption of the main directions of tax policy for 2021" has already been prepared.

In general, the excise tax provides for the equalization of most of its rates for import and production. At the same time, the excise tax rates set in absolute amounts are indexed taking into account the abolition of their stipulated indexation from April 1, 2020.

In addition, the Ministry of Finance proposes to reduce the excise tax rate for legal entities providing mobile services from 20 to 15 percent.

According to the draft law, the main directions of tax policy will be to maintain the main tax rates for VAT (15 percent), income tax (15 percent, for certain categories 20 percent), personal income tax (12 percent), property tax of legal entities (two percent), land tax for agricultural land (0.95 percent), social tax (business entities - 12 percent and budgetary organizations - 25 percent), turnover tax (base rate four percent).


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