Taxes
Types of taxes, rates and reporting deadlines
If the tax authority suspends operations on bank accounts: in which four cases, what is not suspended and when is the decision cancelled?
If a report is not filed on time or a demand of the tax authority is not met, outgoing operations on all accounts of a legal entity may be suspended. Under Articles 111–113 of the Tax Code: who decides and for how many days, the four grounds, what the restriction does not touch, cancellation deadlines, interest and late-payment interest when cancellation is unlawful or late: in the six-day example of one company.
Not enough money to pay the tax in one go: who can get a deferral or an instalment plan, on what grounds, and when is interest charged?
After a desk tax audit, a plastic containers company was assessed 84 million soum of additional tax. Must it be paid within a month, or can it be split over six months? Grounds under Chapter 11 of the Tax Code, cases with and without interest, reasons for refusal, the documents required and what happens if the conditions are breached.
Two years of losses, a profit in the third: how does carrying a loss forward reduce corporate profit tax, and why is it not taken into account in quarterly calculations?
A company making plastic containers closed 2024 and 2025 with a loss and moved into profit in 2026. In what order are losses carried forward under Article 333 of the Tax Code, how much tax is saved, what happens to the tax paid for the quarters, and in which cases is a loss not carried forward: a calculation year by year.
The seven elements of a tax: which questions do you need to answer to understand any tax?
The second lesson of the course: the seven elements of a tax under the Tax Code (object, base, rate, period, and the procedures for calculation, reporting and payment), and the concepts of taxpayer, tax agent and tax benefit, shown on the VAT of one furniture workshop.
What is a tax: the state's share hidden in the price of a coffee, and the word «tax» that came from "to assess"
The first lesson of the course: what a tax is in plain words, how it differs from a fine and from charity, which Latin verb the English word «tax» comes from, and how much VAT there is in the price of a cup of coffee.
Three stages, one goal: how has Uzbekistan's Tax Code changed from 1997 to today?
In Uzbekistan the tax rules are gathered in one book, and that book has been completely renewed twice: the texts of the Code that came into force in 1998, 2008 and 2020. Dates, the list of taxes in the current Code, and a practical table on which Code to read an old document with.
VAT base adjustment: what is done if goods are returned, the price changes or a service is cancelled?
When Article 257 of the Tax Code allows the VAT base to be reduced or increased, which document to use and in which month, what the one-year term means: a month-by-month calculation using the example of a print shop.
1% turnover tax for individual entrepreneurs: who does it apply to, and who not?
An individual entrepreneur (sole proprietor) who sells up to one billion soum during the year pays 1 percent tax on revenue. But this regime does not suit an entrepreneur who imports goods himself, sells alcohol at retail in a fixed trading outlet or sells jewellery. On the example of a toy shop selling through a marketplace: who gets 1 percent and who does not, when to report, and what happens if the threshold is exceeded.
The stamped paper tax (1765): how did a single tax rouse entire colonies?
Newspapers, contracts, even playing cards had to be on specially stamped paper. The "stamp duty" imposed by the British Parliament on the American colonies in 1765 did not survive even a year, but it started the debate about taxation and representation. Short key points and a hypothetical calculation of a fixed duty levied on documents.
Property tax advance payments: who pays monthly, who pays quarterly, and how is the year-end settlement made?
A legal entity pays property tax during the year in advances, but the schedule depends on the type of taxpayer. The deadline for the statement, monthly and quarterly advance dates, the minimum value check, the year-end difference and the 10 percent rule on the example of two companies, with journal entries.
Tax on dividends: who withholds it and how is it calculated?
Under the Tax Code, a company paying dividends is a tax agent. Rates for residents and non-residents, legal entities and individuals (Articles 337, 353, 381, 382), temporary reliefs for dividends on shares in force until the end of 2028 (Article 483), the reporting and payment deadline, and journal entries using «Shahrixon Avto» JSC as an example.
Refund of excessively collected tax: a template application to the tax authority
Did the tax authority debit more than necessary from your account through a collection order? The filing deadline, refund deadline and interest under Articles 103–105 of the Tax Code, the forced collection procedure, step-by-step actions, a template application in the name of a fictional company (DOCX) and an analysis of the wrong article references in an old template.
How is the personal income tax and social tax calculation formed proactively: what does the accountant upload, and what does the system calculate itself?
The calculation and its five appendices, the columns of Appendices 4 and 5 uploaded by the tax agent, the order for companies with branches, where the main lines come from (in a table), a one-month numerical example and typical mistakes that follow from the guide's restrictions.
What else is withheld from wages besides personal income tax, and which journal entry records each deduction?
The employer withholds personal income tax as a tax agent, but the payslip also has other deductions: the advance, unreturned trip money, contributions to funds at the employee's expense, goods bought on credit, material damage, products sold to the employee, a court document. For each, the line in NAS No. 21 and one complete payslip example.
If corporate profit tax on services at bazaars and shopping complexes is 15 percent, how much is saved and how should the accounts be split?
Decree PF-175 lowers the rate on profit from services provided at bazaars and shopping complexes from 20 percent to 15 percent. How large is the saving, and how does a company with two lines of business allocate its common costs?
How should you check your VAT accounts before closing the month: do 4410, 6410 and the invoices match?
The VAT payable to the budget comes from the difference between two accounts. If one of them does not match the documents, the error passes into the return as well. A short month-end checklist and one discrepancy that was found.
What is your firm's tax burden: how should it be calculated and what should it be compared with?
"How much tax are we paying out of revenue?" To answer this question correctly, which taxes should be added, which base should be taken and who should the result be compared with? Step by step, using a sewing firm as an example.
Why does subtracting 12 percent give the wrong answer when finding the VAT included in a price?
The menu price includes VAT. If you subtract 12 percent from it, VAT goes up and income goes down. The correct formula and a simple check, using a café as an example.
How was the cash register invented: from Ritty to the online cash register
The first cash register was invented by a saloon owner who wanted to find out where the money in his till was disappearing. Today a receipt reaches the tax authority in an instant. The main stops on a journey of nearly two centuries.
How did income tax become permanent in the USA: the 16th Amendment of 1913 and the 20th century
The USA introduced income tax twice and lost it twice. For the third attempt to succeed, the Constitution itself had to be changed. The events of 1913 and how, in the 20th century, income tax became a tax paid by most people.
Digital tax administration: how did the e-invoice and "Tax Administration 3.0" come about?
From the paper tax return to the e-invoice checked in real time. The newest stage in the history of taxation, Italy's experience and the OECD concept in short key points.
How was VAT invented: from France's 1954 reform to more than 170 countries
Value added tax, which today applies almost all over the world, appeared in France a little over seventy years ago. Its history in short key points and one calculation example.
How did income tax come about: the "temporary" tax of 1799
A tax introduced "for a while" to cover the cost of war has survived for more than two centuries. Why William Pitt's income tax was needed and how it differs from today's income tax.
Taxation in the Middle Ages: what did the Domesday Book and Magna Carta change?
A book that recorded the whole kingdom and a charter that limited the king's right to levy taxes. Short key points on the mark these two documents of medieval England left on the history of taxation.
How were taxes collected in the ancient world: from Egyptian priests to Roman legionaries
The state treasury was kept full even in an era before coins. Using the tax relief on the Rosetta Stone and Augustus's inheritance tax as examples, we compare the ancient tax system with today's.
Who benefits from the simplified 6% VAT regime? A calculation for two businesses
6% is less than 12%, but input VAT on purchases is not credited. Using a café and an electronics shop as examples, we work out which regime is cheaper and calculate the "break-even point".
What is a negative VAT difference and how is it refunded?
If input VAT on purchases exceeds VAT on sales, the budget ends up owing you. How a negative difference arises, the 10 million soum rule in PF-100, and the journal entries.
How should a new business partner be checked before signing a contract?
A cheap offer may have a sham company behind it. Such a partner puts your VAT and expenses at risk. A checklist and one cautionary story.
Can tax overpaid to the budget be refunded?
Made a mistake in a figure and paid too much tax? The money is not lost. What to do, in brief key points.
How do you put together a tax calendar?
Missing a deadline leads to late payment interest. Seven steps to a one-page tax calendar and a café example.