Chamber of Commerce and Industry is studying the challenges and prospects of VAT refunds
Tashkent, Uzbekistan (UzDaily.com) -- On 14 May 2022, the Chamber held a regular meeting with entrepreneurs, where the new mission of the CCI was presented - to contribute to the economic growth of Uzbekistan, improving the business environment and increasing the competitiveness of the CCI members. In addition, the CCI acted as a platform to discuss the main challenges and prospects for VAT refunds for entrepreneurs.
A business breakfast at the International Hotel, organized jointly with the Ministry of Finance and the State Tax Committee, brought together the country’s leading experts along with representatives of various business industries from all regions of Uzbekistan. One of the important goals of the meeting was to provide a platform for entrepreneurs to openly discuss problems and constructive solutions in matters of VAT refunds.
During the event, a representative of the State Tax Committee and the Ministry of Finance made a presentation on the problems and solutions available in the issue of VAT refunds.
Also, proposals from entrepreneurs were heard and collected. During the meeting, decisions were discussed on the return of VAT for the preparation of an analytical note to the authorized bodies.
In addition, the Chairman of the Chamber of Commerce and Industry, Davron Vakhabov, along with the tasks set, presented the new mission of the Chamber of Commerce and Industry - contributing to the economic growth of Uzbekistan, improving the business environment and increasing the competitiveness of our members. Both domestically and looking for new markets abroad.
It is worth noting that the unique interactive format for discussing innovations is already showing results. Thus, in the previously held business breakfast, the Chamber of Commerce and Industry organized a survey among the country’s 100 largest exporters. The vast majority of 90% of respondents believe that the non-refund of VAT delays the active development of business and the economy as a whole.