Improving the tax system of Uzbekistan

2021 ◽  
Vol 17 (7) ◽  
pp. 1392-1408
Author(s):  
Elena Yu. SIDOROVA ◽  
Anvar V. DZHURAEV
Keyword(s):  
Economic Growth ◽  
Value Added ◽  
Social Institutions ◽  
Tax Burden ◽  
Tax System ◽  
Net Profit ◽  
Tax Benefits ◽  
Tax Practice ◽  
Development Objectives ◽  
Sustainable Economic Growth

Subject. The article spotlights directions of the tax system and fiscal policy, which induce the economic growth in Uzbekistan, sustainability of its tax system, and address key goals of the socio-economic development. Objectives. We evaluate the current reforms intended to improve the tax system of Uzbekistan during the globalization of the world economy, and formulate relevant recommendations. Methods. The study uses analytical methods to process publicly available data. Results. The tax practice of Uzbekistan is found to demonstrate a disparity in tax burden in case of the general and simplified tax treatment, i.e. a comparatively big gap between taxes paid by taxpayers. To reduce the disparity, it is necessary to dramatically alleviate the tax burden and facilitate general taxation rules. Furthermore, to create the equitable and fair tax system, tax benefits should be gradually abolished, since they seriously reduce the income of people. A reduction in the VAT rate may help change the simplified tax treatment into the general one. Conclusions and Relevance. If the proposed actions are implemented, Uzbekistan will be able to establish a modern taxation model, eliminate the systemic disparity and inequality, and, ultimately, create effective social institutions driving the sustainable economic growth. There should be the fiscal mechanism for net profit or income, value added, with the concurrent abolishment of the turnover tax, which contradicts international tax practices.

scholarly journals Impact of Implementation of Goods and Service Tax on Indian Banking Sector

2018 ◽  
pp. 18-32
Author(s):  
Revathi R. ◽  
Madhushree ◽  
P. S. Aithal
Keyword(s):  
Economic Growth ◽  
Banking Sector ◽  
Value Added ◽  
Tax System ◽  
Tax Rate ◽  
Bank Branches ◽  
Goods And Services ◽  
The Government ◽  
One Year ◽  
The Impact

The banking sector is one of the biggest and revenue generating sector in our economy. Indiais a country with impressively splendid banks with sufficient capital and well-regulated rulesand regulations. One of the biggest transformations that the sector faced during this period isGST i.e., Goods and Service Tax, a new tax regime introduced in the midnight of 1 July2017. Now the new tax regime has become one year old and there are so many changeswhich happened in the banking sector during this one-year periods. Introduction of GST tothe banking sector was one the highly risky and challenging role for the government. GST isa replacement to the Value Added Tax (VAT) which was implied on goods and services. Themain purpose of studying the impact of implementation of GST is to avoid double taxationon goods and services. It is a self-regulated tax system with a simplifies tax regime whichreduces the multiplicity of tax. The purpose of this study is to know the challenges faced bythe Banking sector and its effects on the customers after the implementation of the GST.New tax regime made an incredible step by the abolish of centralized registration of thebanks. Now all the bank branches have to register under GST in each state for the smoothfunctioning. The tax rate has created an impression in the banking sector that the sector iscontributing much toward the economic growth of the country. Tax slabs is anotherimportant and critical thing discussed in this paper which has substantially increasedcompared to the old tax regime. Data for the study have been collected from secondary datasources such as journals, internet, and news articles. Using the ABCD qualitative analysistechnique, advantages, benefits, constraints, and disadvantages for both banks and thecustomers for payment of GST are identified.

Taxes

2020 ◽  
pp. 146-163
Author(s):  
Kenneth P. Miller
Keyword(s):  
Economic Growth ◽  
Income Tax ◽  
The State ◽  
Personal Income ◽  
Tax Burden ◽  
Government Programs ◽  
Tax System ◽  
Revenue Source ◽  
Adequate Funding ◽  
State Tax

This chapter places Texas and California on the national spectrum of state tax policy and shows how they occupy opposite poles. Texas has maintained a low overall tax burden and is one of a small number of states that has steadfastly refused to adopt an income tax. Advocates of the Texas tax system argue that it protects personal freedom, promotes economic growth, and provides the state a crucial advantage in attracting new residents and businesses. Critics say the system is regressive and fails to produce adequate funding for government programs. By comparison, California has embraced a far higher tax burden and a progressive tax structure. Its largest revenue source, the personal income tax, is the highest in the nation. Advocates say California’s tax system generates needed funding for government programs and appropriately shifts the tax burden to those most able to pay, while critics say these taxes are excessive and help drive residents and businesses out of the state.

scholarly journals The optimization procedure in the tax system, the processing organizations

2019 ◽  
Vol 81 (1) ◽  
pp. 357-365
Author(s):  
A. I. Khоrеv ◽  
G. V. Belyaeva ◽  
A. N. Polozova ◽  
R. V. Nuzhdin
Keyword(s):  
Low Cost ◽  
Optimization Procedure ◽  
Economic Benefits ◽  
Tax Burden ◽  
Tax System ◽  
Tax Legislation ◽  
Tax Management ◽  
Tax Benefits ◽  
Processing Organizations ◽  
Tax Payments

An effective process of tax management of processing organizations is the optimization of the tax system, which provides an increase in the mass of tax benefits of taxpayers. For food processing organizations, optimization procedures are of particular importance due to the high and ever-increasing tax burden on economic activity. It has been established that over the past eleven years, the tax burden of processing organizations increased 2.1 times, outpacing its growth rates in organizations of other types of activity by 2.3 times. These relationships are additional arguments in favor of the need to develop optimization procedures, taking into account the specific features of organizations of food production. Carrying out optimization procedures by system and deductive methods provides for the development of a program of relevant measures. As objects of program activities, it is advisable to choose those for which the current tax legislation provides for the greatest number of benefits, and which will bring tangible economic benefits to organizations. The main objects are taxes: income, property, VAT, personal income tax, since each category of these has optimization opportunities for calculating the tax base and reducing the mass of tax payments to the budgets of the respective levels. A brief, meaningful title has been formulated for each program event, the essence of which directly affects the magnitude of such elements of the taxation system as the taxable base, tax payment terms, organizational and methodological parameters for tax calculation, accounting registers of accounting tax policy and others. Detailed explanations are given on individual optimization measures with an indication of regulatory legal acts that allow using a particular benefit or opportunity in taxation practice, and also lists the basic conditions for the application of the recommendations made. Particular attention is paid to the rules of registration of primary documents, as basic accounting units that change during the implementation of specific recommendations. The introduction of the recommended program of optimization procedures into the practice of tax management has a real prospect due to the low-cost financial resources for their implementation, but it will significantly increase the level of tax solvency of the processing organizations.

scholarly journals Transformation of the taxation system and its influence on enterprise development in the Republic of

2011 ◽  
Vol 2 ◽  
Author(s):  
Furkat Bazarov
Keyword(s):  
Economic Growth ◽  
Small Businesses ◽  
Tax Burden ◽  
Tax Rates ◽  
Enterprise Development ◽  
Tax System ◽  
The Republic ◽  
Tax Changes ◽  
Taxation System ◽  
Small Business Taxation

The research studies impacts of new tax changes to the small businesses, unemployment and to economic growth in Uzbekistan. The study shows that the tax policy directed on perfection of tax mechanisms, reduction of tax rates aimed to raise economic efficiency of manufacturing and increasing individual income. As a result from year to year the tax burden is reduced and the taxation order becomes simpler. Empirical analysis shows that only for last seven years the general tax burden in economy was reduced with 40 to 27 percent. The author found problems existing in small business taxation and generalizes recommendations for simplification of tax system and tax administration. 

The Russian Tax System: A View from the Inside

2012 ◽  
pp. 116-132
Author(s):  
S. Sayfieva
Keyword(s):  
Value Added ◽  
Tax Burden ◽  
Net Income ◽  
Economic Activities ◽  
Tax System ◽  
Tax Revenues ◽  
System A ◽  
Gross Value Added ◽  
Control Net ◽  
Over Time

The article considers the tax potential of the composition of GDP by type of primary incomes in 2000—2010 by main economic activities and branches of industry. The analysis has shown that the components of GDP, which decline (net income), comprise the basis of the tax system; meanwhile the proportion of the components, hardly covered by taxation (hidden salary), or those, which taxation is difficult to control (net mixed income), increases. The author comes to the conclusion that the proportion of the industry tax burden and the share of gross value added in GDP should be balanced. Otherwise, the tax system becomes ineffective. The analysis of the structure of industry tax revenues over time suggests a high differentiation of taxes on economic activities and industries.

scholarly journals IMPROVING THE TAXATION OF ENTERPRISES IN UKRAINE BY TAKING INTO ACCOUNT THE INTERNATIONAL EXPERIENCE OF REFORMING TAX SYSTEMS

2021 ◽  
Author(s):  
Yuliia Ohrenych ◽  
◽  
Viktoriia Dibrova ◽  
Keyword(s):  
International Experience ◽  
Tax Burden ◽  
State Budget ◽  
Tax System ◽  
Electronic Documents ◽  
Advantages And Disadvantages ◽  
The Usa ◽  
Tax Benefits ◽  
Tax Payments ◽  
The Eu

The article is devoted to the study of the peculiarities of taxation of enterprises in Ukraine on the example of the postal company JSC "Ukrposhta", as well as the study of international experience of other countries in the taxation of enterprises. The paper investigates different approaches of scientists to the concept of "tax burden" and "tax system". The debt of Ukrposhta JSC to the state budget is considered and its financial indicators are analyzed, namely income from sales of products, equity and their dependence on the amount of tax burden. According to the research, the main financial and economic indicators that are most exposed to the tax burden were identified and recommendations were given on which indicator to pay attention to. The paper identifies the advantages and disadvantages of the tax burden, among which should be highlighted the amount of taxes paid to the budget, which should be monitored in order to increase investment in the country. Methods of stimulating enterprises to pay taxes and directing the tax burden to improve the investment climate in the country are also proposed. One of the most common methods of stimulating tax payments is the provision of tax benefits, but it also has its drawbacks. In this paper, the European experience of using the tax burden as an incentive to pay taxes was considered. Peculiarities of enterprise taxation in the EU and the USA are studied. The advantages and disadvantages of the tax system of Ukraine are analyzed and several areas of its improvement are proposed based on the experience of the EU and the USA. Hiding the income of enterprises is the main problem of the tax system of Ukraine and it is it that needs to be solved in the first place. Ways to stimulate the payment of taxes to the budget are proposed and methods of reforming the current tax system by taking into account international experience are considered. One of the proposed methods to improve the tax climate is the introduction of electronic reporting through the first Ukrainian application "Action", which collects all electronic documents of citizens. At present, this application is the only one in the world that combines so many electronic documents.

scholarly journals Public Support of Private R&D–Effects on Economic Sustainability

2018 ◽  
Vol 10 (12) ◽  
pp. 4612 ◽  
Author(s):  
Jan Cadil ◽  
Karel Mirosnik ◽  
Ludmila Petkovova ◽  
Michal Mirvald
Keyword(s):  
Economic Growth ◽  
Private Sector ◽  
Public Support ◽  
Value Added ◽  
Developed Countries ◽  
Innovation Activity ◽  
Substantial Part ◽  
Economic Sustainability ◽  
Sustainable Economic Growth ◽  
Positive Effect

A substantial part of contemporary R&D policy in developed countries is focused on the support of R&D in the private sector. Such intervention is theoretically justified by a higher propensity to innovation and consequently to higher competitiveness, which promotes sustainable economic growth. Most of the empirical research done so far focuses mainly on the leverage effect, the effect on innovation activity or on estimating the crowding out effect of public support. Although the outcomes of this research are quite contradictory, only a few studies focus on the effect of public support of private R&D on the private bodies’ performance indicators, which are naturally connected with a company’s economic sustainability. In this article we use counterfactual design and show that the R&D policy of supporting the private sector leads to higher innovation activity, but it does not lead to higher value added and productivity for supported subjects, at least in the short run. Such a finding suggests a possible flaw in R&D policy implementation—it is questionable if higher innovation activity is truly effective if it is not followed by a positive effect on production (value added) and productivity, and if it does not have a positive effect on competitiveness or lead to sustainable economic growth.

Research on the Impact of Resource Tax Reform upon the Development in West China

2014 ◽  
Vol 962-965 ◽  
pp. 1813-1817
Author(s):  
En Lai Bai
Keyword(s):  
Economic Growth ◽  
Tax Reform ◽  
Industrial Structure ◽  
Ecological Environment ◽  
Tax System ◽  
West China ◽  
Tax Rate ◽  
Resource Taxation ◽  
Sustainable Economic Growth ◽  
The Impact

The economy has been continuously growing along with constant changes and innovations in the resource tax system. Through the background and implication of resource tax reform as well as the mechanism of how such reform affects West China, we can find out the impact of such reform upon sustainable economic growth, the ecological environment and all sectors in West China. In order to further optimizing and upgrading the industrial structure in West China, in my opinion, we should take the following five countermeasures: 1) The scope of taxation is to be enlarged; 2) The tax rate is to be increased step by step; 3) The resource taxation mechanisms are to be integrated and simplified; 4) Preferential taxation polices are to be improved in West China; 5) Auxiliary reforms are to be carried out for the resource taxation.

scholarly journals ЕФЕКТИВНІСТЬ ПОДАТКОВИХ ПІЛЬГ В РЕСПУБЛІЦІ БІЛОРУСЬ

2020 ◽  
pp. 65-73
Author(s):  
Ірина Анатоліївна Конончук ◽  
Ірина Олександрівна Пригодич ◽  
Олексанр Володимирович Києвич
Keyword(s):  
Tax Incentives ◽  
Theory And Practice ◽  
Government Support ◽  
Tax Burden ◽  
Negative Effects ◽  
Tax System ◽  
Distribution Of Resources ◽  
Tax Benefits ◽  
The Republic ◽  
Object Of Study

Formulation of the problem. The problems of applying tax benefits are one of the most controversial and controversial in the architecture of building the tax system of the state. The multifaceted perception of their need, focus, choice of priorities, implementation conditions, and other equally complex elements of the system of tax benefits has given rise to many questions that the theory and practice of taxation are not able to unambiguously answer. The purpose of the article is to study the features of the application of tax benefits in the Republic of Belarus, as well as to determine the effectiveness of their application. Object of study - features and practical procedures for the establishment of tax benefits in the Republic of Belarus. Methods used in the study. The use of the induction method allowed us to identify areas for improving the procedures for determining the effectiveness of the application of tax benefits. Research hypothesis. The negative trend in the effectiveness of tax incentives is partly due to limiting objective factors. Statement of the main material. The implementation of the economic function of taxes, the existence of which is indicated by the comprehensive nature of taxes, involves the use of leverage or tax benefits in various forms in the fabric of taxation. And despite the presence of many negative effects of tax benefits (a distorting effect on the distribution of resources, irrationality of the structure of the tax burden, an increase in tax administration costs), states actively use them as a tool for solving socio-economic problems. The huge number of benefits characteristic of the tax system of the Republic of Belarus provided for by various regulatory legal acts predetermined the need for their adjustment and assessment of their effectiveness. The article considers certain tax preferences that are provided in order to support and develop the country's priorities and areas of activity. Originality and practical value. The study of the peculiarities of special taxation regimes used by small and medium-sized businesses, agricultural organizations, allowed us to conclude that with low profitability of payers, the construction of tax relations based on them is not a condition for reducing tax obligations. Conclusions. To increase the efficiency of the simplified tax system from the standpoint of minimizing the tax burden on payers, it is proposed to reduce the existing tax rates. Comprehensive government support for the IT sector, including in the form of tax incentives, allowed HTP residents to significantly increase profitability and provide increased opportunities for their growth.

scholarly journals The Role of Improving the Tax System in the Development of Entrepreneurship During the Pandemic

2021 ◽  
Vol 04 (11) ◽  
Author(s):  
Nargiza Nurmatovna Karshieva ◽  
Keyword(s):  
Value Added ◽  
Value Added Tax ◽  
Power Of Attorney ◽  
Tax System ◽  
Tax Benefits ◽  
The Cost ◽  
Compensation Payments

This article describes the tax benefits provided to businesses in Uzbekistan during the pandemic, their content and amount. As a result of the analysis, the author made the following proposals: to ensure the complete transfer of all taxpayers to electronic accounts in order to prevent breaking the value-added tax chain, as well as to take measures for electronic registration and protection of the power of attorney for the import of goods and materials; consideration of the issue of administering VAT accounting in the form of compensation payments included in income in the form of wages, that is, the cost of food or the cost of food.

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