Tax reform of 2019 in Uzbekistan
Abstract
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.
References
Cf. S. Acharya: India's Fiscal Policy, in: R.E.B. Lucas, C.F. Papanek (eds.): The Indian Economy. Recent Development and Future Prospects, Boulder, London 1988, pp. 301 ft.; Schwere Rezession in Peru. Pl&ne Carlos Bolol3as fur eine Fiskalreform, in: Neue Zurcher Zeitung, No. 53, 6 March 1991; K.W. Menck: Mobiiisierung interner Ressourcen durch die Steuerpolitik in Entwicklungsl&ndern -eine Fallstudie fur ein fortgeschrittenes Land: Singapur, HWWA-Report No. 85, Hamburg 1990.
Cf. World Bank: World Development Report 1988, Washington, D.C., 1988.
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