TASHKENT, Uzbekistan, December 20. Uzbekistan has adopted a new regulation on the procedure for the distribution of social taxes, Trend reports.
As per data from Uzbekistan’s National Legislation Database, the changes mainly affect the terminology and names of organizations. The main provisions concerning accountants have remained unchanged.
In cases of late reimbursement by legal entities of the Uzbek Pension Fund's expenses for the payment of pensions, a penalty fee of up to 100 percent of the amount owed is charged for each day of delay.
Meanwhile, as the data by Uzbekistan’s Ministry of Economy and Finance shows, the state budget revenues amounted to 38.1 trillion soums ($3.1 billion), two-thirds of which came from tax payments.
The increased expenditures, exceeding 50 trillion soums ($4 billion), were mainly the result of an increase in VAT refund by 1.4 trillion soums ($115.1 million).