“MILLIY IQTISODIYOTNI ISLOH QILISH VA BARQAROR RIVOJLANTIRISH ISTIQBOLLARI”
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THE PROCEDURE AND ANALYSIS OF TAX DEBT COLLECTION OF
INDIVIDUALS
Khakimov F. Ulugbek
Independent researcher of Kimyo International University in Tashkent.
Doctor of philosopy (PhD) in economical sciences.
Email: ulajaha12@gmail.com
The tax system is one of the oldest means of ensuring fiscal, economic and
social functions of the state and based on the specific characteristics of taxpayers,
it is required to constantly make changes, clarifications and additions. The
expansion and complexity of economic relations requires tax administration in
the country to be in line with the realities of the modern economy, to clearly
regulate taxation, and at the same time to be transparent. In particular, the head
of our state said, “You are all aw
are of the sharp processes taking place in the
world today. The complex geopolitical situation in the world, the shortage of
energy resources is increasing, the need for food is increasing, and financial
resources are becoming more expensive. In such a situation, no matter how
difficult it may be, we will resolutely continue economic reforms, fully mobilize
domestic capabilities, and further develop the private sector. For this, first of all,
we will speed up reforms to improve the business environment.” [1
]
In fact, the consistent continuation of economic reforms means tax reforms,
including reducing the tax burden, simplifying the taxation system, unifying tax
types, and at the same time controlling the revenue of taxes on time and, as a
result, ensuring economic development. Speaking about tax revenues, we should
first emphasize that tax control activities are considered the most important
function of tax authorities. After all, it is possible to achieve all the goals and tasks
set by the state only by effective and complete collection of taxes and fees and
reduction of tax debt, as a result of which it is possible to ensure progress in the
path of economic development.
According to A. Podkolzin, a foreign economist who conducted scientific
research on this issue, tax debt may arise as a result of the following factors:
1) Socio-political and historical;
2) Organizational and legal;
3) Economic.
Social, political and historical - it can be explained by the origin of resistance
and objections to the political activities of some countries, the lack of formation
of tax culture and, in addition, several other social situations.
Organizational-legal - in this case, it is explained by the lack of improvement
of the tax administration, the incomplete formation of the tax legal base, and the
high tax burden.
Economic - this factor is explained by economic change. It is mainly divided
into 2 groups:
“MILLIY IQTISODIYOTNI ISLOH QILISH VA BARQAROR RIVOJLANTIRISH ISTIQBOLLARI”
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- the first group is the instability of the system in the general economy, the
lack of a sufficient level of money supply, a high level of inflation, a decrease in
production or a decrease in purchasing power;
- the second group is explained by the cases related to the production and
trade of goods, which have their own characteristics, and the cases related to the
technical production, which apply only to some economic entities. [2]
According to the author, the occurrence of tax debt depends on the following
3 important factors:
-
tax culture;
- tax burden;
- tax legislation.
Tax culture can be defined as a set of established norms, rules and principles
of behavior of taxpayers and tax authorities in the field of tax relations.
A high tax burden causes the share of the shadow economy to increase along
with the increase in tax debt in the country.
If the tax legislation in the country is not perfectly developed, cases of tax
evasion by taxpayers will increase, and as a result, tax debt will begin to appear.
[3]
In the tax l
egislation of Uzbekistan, “Every person is required to pay the
taxes and fees specified in the Tax Code, and no one can be imposed the
obligation to pay taxes and fees not provided for in this Code of Taxes and Fees”
- is determined to be. At the same time
, in accordance with this Code, “Taxpayers
are obliged to calculate and pay the specified taxes and fees o
n time and in full.”
If the taxpayers do not transfer the calculated taxes and fees to the budget within
the specified period or refuse to pay them, then these taxpayers will have a tax
debt before the budget, and the tax authorities will collect the tax debt in the
prescribed manner measures will be taken.
The procedure for collecting tax debt from individuals differs from the
procedure for collecting tax debt from legal entities, i.e. upon the appearance of
tax debt from individuals, the tax authority does not take any mandatory
collection measures against them until the total amount of tax debt reaches one
million soums is not increased. According to the Tax Code, if the tax debt of
individuals exceeds one million soums, the tax authority will start compulsory
collection by submitting an application to the court for the collection of tax debt
at the expense of the property of the individual. [4] Tax liabilities of individuals
mainly arise from property and land taxes. Due to the fact that the sums of tax
collected from individuals are usually withheld by tax agents and transferred to
the budget, there is little tax debt from this type of tax.
Accordingly, individuals with property and land tax arrears for the period
of 2019-2023 were analyzed. As a result of the analysis, the number of tax-paying
individuals, including individuals with property and land tax arrears, and the
amount of tax arrears tend to increase. In 2019, the total number of property and
land tax payers was 7 350,1 thousand, and by 2023, this figure will reach 9 641,2
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thousand. In 2023, compared to 2019, it increased to 2 291,1 thousand or an
average of 31,2%. Year by year in our republic, the increase in the number of
people living in the country, the increase in their need for housing, and as a
result, the increase in the volume of construction of residential (non-residential)
buildings, by themselves, are physical property and land tax payers. it is natural
that it leads to an increase in the number of individuals. At the same time, the
number of individuals with property and land tax arrears is also increasing. In
particular, the number of taxpayers with tax debt reached 7 349,1 thousand in
2023, compared to 4 683,3 thousand in 2019, which increased by 2 665,8
thousand or 57% compared to 2019. In the last 5 years, the growth rate of the
number of individuals with tax debt is 12,1% on average.
Also, if we analyze the amount of tax debts of individuals from property and
land taxes, in 2019 861,5 billion soums amounted to 3 257,7 billion soums in
2023. This figure is 2 396,2 billion soums increased to 2023 or 278% (year-on-
year growth rate of tax debt is 42% on average). Of course, it is not a positive
result that the amount of tax debt increases from year to year at a high speed, but
the level of inflation in the country should also be taken into account here. Then
the difference between the years will be significantly reduced. In addition,
factors such as the income level of the population, the pandemic and the tax
culture also influenced the increase in tax debt.
Based on the above, the following suggestions may have a positive effect on
reducing the tax liability of individuals in the future:
- to take measures to further develop the tax culture of individuals;
- creation of an opportunity to
monitor tax receipts “online” in order to
further strengthen taxpayers' trust in the tax authority.
References
1.
Appeal of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the Oliy
Majlis and the people of Uzbekistan on December 20, 2022.
2.
Podkolzin A. (2016). Magazine "Russian Entrepreneurship" No. 2 p. 74.
3.
Khakumov U.F. Practice of recovery of tax debt and directions for its improvement.
Dissertation of the doctor of philosophy (PhD) in economic sciences
–
2023.
4.
Article 125 of the Tax Code of the Republic of Uzbekistan.
THE YIELD CURVE OF THE GOVERNMENT BONDS OF THE
REPUBLIC OF UZBEKISTAN
Khоlikоv Khamidulla,
PhD
Hеad spеcialist, thе Cеntral Bank оf thе Rеpublic оf Uzbеkistan
A well-functioning government securities market can enhance overall
liquidity in the broader bond market. Government bonds come in a range of
maturities and are actively traded, enabling the establishment of a risk-free yield
curve. Recently issued bonds, termed "on-the-run securities," are typically more
