CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Uzbek Tax On Small Business Will Hurt

Uzbek Tax On Small Business Will Hurt

by Tatiana Smolenskaya, Tax-News.com, Moscow

15 September 2010


Plans to change the basis for charging tax on small business in Uzbekistan have caused widespread concern that small businesses would go out of business or turn towards black market activities.

The Uzbek “unified tax payment” introduced in 2005 as a simplified tax of 7% on the gross revenue of small business is scheduled to change into a monthly flat tax, based on a factor of 3-10 times the minimum official wage.

This could result in monthly charges of up to USD280 per month. Whilst the tax authority seeks more certainty for its revenue stream, many of the businesses calculate that their charges will increase many-fold and some will be loss making as a result.

This comes at a time when migrant labour is returning to Uzbekistan, as neighbouring economies suffer from the recession, and the persistent black market in foreign currencies is reportedly making business start-ups more difficult.

TAGS: tax | small business | business | law | tax rates | Uzbekistan

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »