Open AccessTax reform of 2019 in Uzbekistan
Author(s) -
Yuldasheva Umida Asanaliyevna
Publication year - 2020
Publication title -
international journal on integrated education
Language(s) - English
Resource type - Journals
eISSN - 2620-3502
pISSN - 2615-3785
DOI - 10.31149/ijie.v3i10.760
Subject(s) - tax reform , order (exchange) , economics , direct tax , indirect tax , value added tax , economic policy , market economy , business , economy , international economics , public economics , finance
This article discusses how the tax reforms affect the budget and business atmosphere in Uzbekistan. The country has already implemented several tax methods but few of them have made the economy flourish. Yet, recent changes differ from previous ones with these reforms reflecting the experiences of those countries whose economy is highly affected by the tax in a positive way. In order to dramatically decrease the tax burden on companies and individuals, the number of direct taxes has been cut hoping to open the hidden economy in the country. However, the meaning of direct taxes has been moved into indirect ones such as VAT. Below we will do our best to analyze the outcomes of the previous tax reforms and offer some taxation mechanisms which can help the economy of the country.