BAKU, Azerbaijan, Aug. 25
By Fakhri Vakilov - Trend:
Uzbekistan's President Shavkat Mirziyoyev signed a decree on a new offset of value added tax (VAT) on export goods, Trend reports citing president’s decree.
The procedure for offsetting the amounts of VAT payable on actually received goods or services used for exported goods will be established from October 1, 2021, regardless of the receipt of foreign exchange earnings.
This applies to disciplined taxpayers who ensure the timely receipt of foreign exchange earnings for the past year and do not have overdue receivables under export contracts.
The attributed amount of VAT (or part of it) will be excluded from the offset, in accordance with the established procedure, in case of non-receipt of currency to the exporter's account within 180 calendar days from the date of production.
From January 1, 2022 the requirement for a separate appeal to the tax authorities for the refund of a negative VAT amount will be canceled. Moreover, an entrepreneur has the right to apply for a refund of a negative VAT amount when submitting tax reports.
A procedure will be developed for offsetting the amounts of VAT paid on the import of goods and the sale of goods or services by the end of 2021.
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