Tax independent work and excise tax full

presentation

1. Elements of taxes and their description and foreign practice

2. Taxes Taxes are required payments of money to governments, which use the funds to provide public goods and services for the benefit of the community as a whole.

3. Why taxes are important? Taxes are essential for funding public services like education, healthcare, and infrastructure, ensuring societal well-being and economic stability. They help redistribute wealth, reduce inequality, and regulate economic activity through incentives and disincentives. Additionally, taxes support government operations, debt management, and long-term economic growth.

4. A tax is considered to be established only when all elements of this tax are defined in the tax legislation. These tax elements include: Tax objection – refers to the item, transaction, or activity on which a tax is imposed Tax Base – The object or activity being taxed. Tax Rate – The percentage or amount applied to the tax base. Taxpayer – The individual or entity responsible for paying taxes. Tax period – The specific timeframe for which a taxpayer reports and pays taxes Tax Collection procedure – Procedure of collecting taxes

5. Object of taxation The object of taxation refers to the item, transaction, or activity on which a tax is imposed. It is the specific subject that forms the basis of a tax liability. The object of taxation varies depending on the type of tax and the jurisdiction imposing it.

6. Common Objects of Taxation: Income – Personal income (income tax) and corporate profits (corporate tax). Property – Land, buildings, and vehicles (property tax, real estate tax, vehicle tax). Goods and Services – Sales of products and services (value-added tax (VAT), sales tax, excise tax). Transactions – Financial and commercial transactions (stamp duty, capital gains tax). Imports and Exports – Cross-border trade (customs duties, tariffs).

7. Tax base The tax base is the total amount of assets, income, or economic activity that is subject to taxation by a government. It serves as the foundation for calculating tax liabilities. Tax liabilities are the portion of the tax base that is collected. They come in many forms, including income, property, capital gains, and sales taxes

8. Tax rate A tax rate is the percentage at which an individual, business, or other entity is taxed by the government. It determines how much of a taxpayer’s income, profits, or transactions must be paid in taxes.

9. Tax rates can be: Progressive (higher income = higher rate, like income tax in many countries) Proportional (Flat) (same percentage for all, like some sales taxes) Regressive (lower income = higher effective tax burden, like certain consumption taxes)

10. Taxpayer A taxpayer is an individual, business, or organization that is legally obligated to pay taxes to a government authority. Taxes can be imposed on income, property, sales, or other activities, depending on the tax laws of a country or jurisdiction. Taxpayers can include: Individuals – People who pay income tax, property tax, or other personal taxes. Businesses – Companies that pay corporate taxes, payroll taxes, VAT (Value Added Tax), or sales taxes. Organizations – Certain entities that may be subject to taxes, depending on their tax status.

11. Tax period A tax period is the specific timeframe for which a taxpayer reports and pays taxes to the government. It varies based on the type of tax and the country's regulations.

12. Common Tax Periods: Annual : Most individuals and businesses file income tax returns for a calendar year (Jan 1 – Dec 31) or a fiscal year (any 12-month period chosen by a business). Quarterly : Businesses may file taxes every three months, such as VAT, corporate tax prepayments, or estimated taxes. Monthly : Some taxes, like payroll tax or sales tax, may be due monthly.

13. Tax procedure The procedure for calculating taxes and other mandatory payments determines the rules for calculating the amount of taxes and other mandatory payments based on the tax base and rate for the tax period, as well as benefits, if any. Tax and other mandatory payments are calculated independently by the taxpayer.

14. Differences between Uzbekistan and foreign countri es Aspect Uzbekistan Foreign Countries (General Overview) Tax System Type Mixed (direct & indirect taxes) Varies: Progressive (USA, UK), Flat (Russia, UAE), Territorial (Singapore) Income Tax 12% flat rate Progressive in many countries (e.g., USA: 10%-37%) Corporate Tax 15% (standard rate) Varies (e.g., USA: 21%, UK: 25%, Singapore: 17%) VAT 12% Varies: EU (20-27%), USA (No VAT, but sales tax 0-10%) Social Tax 12% for individuals, 4% for companies Varies: Higher in welfare states (e.g., France 35%, Germany 14.6%) Property Tax 0.35%–2% Varies: Higher rates in developed countries (e.g., USA: 1%-3%)

15. Uzbekistan’s Efforts in Simplifying Laws Uzbekistan has been working on modernizing its legal system: E-Government System : Many government services are now available online, including tax filing and business registration. Legal Reforms : The government has simplified tax laws and business regulations to attract foreign investment. Public Access to Laws : The country is translating laws into multiple languages and providing more digital legal resources .

16. Interesting facts about tax system of foreign countries Saudi Arabia & UAE – No Personal Income Tax Countries like Saudi Arabia and the UAE do not impose any personal income tax on residents. Instead, they rely on corporate taxes, VAT, and oil revenues to fund public services. Denmark – The World’s Highest Income Tax Denmark has one of the highest personal income tax rates in the world, reaching up to 56% for high earners. However, citizens benefit from free healthcare, education, and other public services. Japan – "Exit Tax" on Wealthy Citizens Japan has an exit tax that applies to people who have more than 100 million yen ($700,000) in financial assets and decide to leave the country. The government taxes unrealized gains before they leave.

17. Conclusion Countries worldwide are continuously working to simplify their legal systems to make them more accessible and user-friendly. From adopting plain language laws and digital government services to implementing AI-powered legal assistants and reducing bureaucracy , nations like Estonia, Singapore, the UK, and Canada have taken significant steps to make legal processes easier for their citizens. Uzbekistan has also been making progress by digitalizing government services, streamlining tax policies, and providing more public access to legal information. However, there is still room for improvement in areas like legal aid availability, AI-driven legal support, and further simplification of business regulations .

18. References https://www.investopedia.com/ https://www.britannica.com/ https://www.wikipedia.org/ https://taxfoundation.org/

19. Thanks for attention