Main direction of activities of businesses to be determined in line with new rules
31/12/2013 09:27
Main direction of activities of businesses to be determined in line with new rules
31/12/2013 09:27
Tashkent, Uzbekistan (UzDaily.com) -- The Government of Uzbekistan introduced changes to the rules on determining main direction of the activities of the businesses.
The amendments were introduced in line with the law “On introduction of changes and amendments to the Tax Code of Uzbekistan in connection with adoption of the main directions of tax and budget policy for 2014” from 25 December 2013.
The law introduced changes to article 22 of the Tax Code. According to the amendments, from 2014 the main direction of the activities will be determined with use of the share of net revenue, Norma.uz reported.
Indirect taxes, which are part of the revenue, will not impact to determining main direction of the activities of the enterprises, the law said.
Earlier, the main direction of the activities of the enterprises was determined based on the share of the revenue in total volume of sales.
The law also amended the meaning of “net revenue”. According to the law, net revenue is a revenue from realization of goods (works, services) without sum of value added tax, excise tax and tax for consumption of petroleum, diesel fuel and gas for vehicles, which are included in the price of goods (works, services).
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