The State Tax Service has reported that in January-February, they collected 2.1728 billion soms in taxes under the simplified tax system based on a single tax. This amount is 1.2678 billion soms more compared to the same period in 2023. The number of taxpayers using this system has also increased.
As of March 1, 2024, there are 174,447 taxpayers paying the single tax, which is 80,841 more than the previous year. Individual entrepreneurs engaged in the sale of goods, works, and services to the public have been able to pay taxes at a 0% rate since 2022 and are exempt from submitting reports on the single tax since 2022.
The Tax Service emphasized that these rates apply if an individual entrepreneur has newly registered or switched from another tax regime to the simplified tax system during the specified periods. They must use a cash register, and their revenue should not exceed 15 million soms in the last 12 months.
For sewing industry entities operating under the single tax, a reduced rate of 0.25% of revenue is provided for up to five years until January 1, 2027. Moreover, there are no revenue limits for sewing industry entities to operate in this system.
The single tax replaces three types of taxes (profit tax, sales tax, and VAT on taxable supplies) and serves as a great alternative to the outdated patent tax system, allowing small and medium businesses to legalize their incomes by paying the corresponding taxes.
Starting from July 1, the patent for trading activities will be abolished. Trading entities can opt for the simplified tax system based on the single tax as an alternative.
