The World Bank has allocated $ 60 million to Uzbekistan for tax reform

These funds are aimed at increasing the level of automation of tax calculation and payment in the country to 90%, VAT collection to 75%, and halving the time for preparation and submission of tax returns.

On March 24, Shavkat Mirziyoyev signed a resolution (PQ-178) on the implementation of the World Bank's Tax Administration Reform Project.

In June last year, the World Bank's board of directors decided to provide a $ 60 million loan to Uzbekistan for a period of 30 years, including a five-year grace period. Funding is provided by the International Development Association, part of the World Bank.

5 years - The main objectives of the project for 2022-2027 are:

increase the level of automation of tax calculation and payment to 90%;
full coverage of businesses with e-services by increasing the number of e-services provided by tax authorities;
Increase VAT collection to 75% due to full automation of VAT collection processes;
halving the time it takes taxpayers to prepare and file tax returns and pay taxes.
The State Tax Committee was appointed to coordinate the project and use the loan, and the DSQ was tasked with setting up a project implementation team.

Debt repayment, as well as reimbursement of interest on debt, brokerage fees for services and liabilities, as well as customs duties, taxes and fees (excluding taxes related to wages) are made from the national budget is increased.

The document authorizes the Minister of Finance to sign a financing agreement between Uzbekistan and the International Development Association on financing the project on behalf of Uzbekistan.