Tashkent, Uzbekistan – Podrobno.uz. Representatives of Uzbekistan's business community have positively responded to the simplification of small business conditions, the key decision being the increase of the threshold for switching to general taxation to 5 billion soums. This was announced by the head of the Presidential Administration, Saida Mirziyoyeva.

According to her, issues of tax burden and administrative requirements have long remained among the most sensitive for domestic entrepreneurship. During trips to the regions, business representatives regularly pointed out systemic problems to the head of the PA: the low threshold for mandatory transition to VAT payment, the complexity of administrative procedures, as well as an excessive number of inspections and reporting.

"As a result, instead of developing peacefully, businesses were forced to artificially split up," Mirziyoyeva emphasized, commenting on the previous limit of 1 billion soums.

According to the new presidential decree, the threshold for annual turnover for mandatory transition to the general tax system and VAT payment is increased fivefold — from 1 to 5 billion soums (12,000 BRV). Fixing the limit at 5 billion soums is expected to primarily protect the micro and small business segment, including family enterprises, retail outlets, catering establishments, and the service sector, from excessive pressure.

According to estimates, revising the limit to 5 billion soums will drastically reduce the administrative burden on entrepreneurs and create more sustainable conditions for the development of the private sector, which ensures daily economic activity in the country's regions.

Source: podrobno.uz