BAKU, Azerbaijan, Mar. 18
By Klavdiya Romakayeva - Trend:
The state budget revenues in Uzbekistan in 2020 amounted to 132.9 trillion soums ($12.6 billion), increasing by 18.5 percent compared to 2019, Trend reports with reference to the press service of the Ministry of Finance of Uzbekistan.
According to the information, the consolidated budget revenues together with extra-budgetary revenues in Uzbekistan during the reported period amounted to 154 trillion soums ($14.6 billion), increasing by 1.1 times compared to the same period in 2019.
The ministry noted that revenues from taxes administered by the State Tax Committee in 2020 increased almost two times compared to 2019 ($8 billion), and amounted to 103.6 trillion soums ($9.8 billion).
Also, at the end of 2020, the share of direct and indirect taxes in the budget of Uzbekistan practically equaled - 34 percent - direct taxes and 34.9 percent - indirect taxes.
At the same time, income tax revenues for the reporting period increased by 8.7 times, and amounted to almost 28.7 trillion soums ($2.7 billion) or 4.9 percent of GDP in 2020.
Income from personal income tax in 2020 amounted to 15.1 trillion soums ($1.4 billion) or 2.6 percent of GDP, while income from turnover tax in 2020 decreased by 3.5 times compared to 2018, and amounted to 1.4 trillion soums ($133 million) or 0.2 percent of GDP.
It is noted that value added tax is one of the main sources of budget revenue in Uzbekistan. The total share of this tax in state budget revenues in 2020 amounted to 30.3 percent (33 percent in 2019).
Furthermore, the amount of VAT receipts amounted to 40.2 trillion soums ($3.8 billion), which is 3.2 trillion soums ($304 million) or 8.6 percent more compared to 2019. In particular, VAT revenues administered by tax departments in 2020 amounted to 20.5 trillion soums ($1.9 billion), or decreased by 13 percent compared to last year.
The VAT levied by customs authorities on imported goods in 2020 amounted to 19.7 trillion soums ($1.9 billion), or 47 percent compared to 2019.
Also, revenues from excise tax in 2020 amounted to 11.7 trillion soums ($1.1 billion) and increased by 13.5 percent compared to 2019. In 2020, the share of this tax in budget revenues amounted 8.8 percent (9.2 percent in 2019).
It is also reported that 3.6 trillion soums ($341 million) of customs duties were collected in 2020, while in 2018, this figure amounted to 1.8 trillion soums ($171 million).
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