ISSUES OF IMPROVING VALUE-ADDED TAX ADMINISTRATION IN REGULATING THE ECONOMY OF UZBEKISTAN

Аннотация

Studying the administration of value-added tax in our country is also related to the improvement of value-added tax. The article analyzes the specific features of calculating the value-added tax base, some complications and problems in its determination, and focuses on issues of improving the formation of the tax base. In addition, based on the results of the changes and additions made in determining and calculating the value-added tax base, appropriate conclusions were formed and recommendations were developed. Key words: value added, value added tax base, tax, budget policy, budget, tax administration, tax potential, regulatory analysis, tax burden, tax reporting, tax revenues, tax benefits. Introduction: In the period of rapid development of the use of digital technologies in the economy, technical and technological renewal of production in our country, support of high-tech processing directions, formation of a competitive environment for economic sectors, achievement of competitiveness of national goods in domestic and foreign markets, export reforms aimed at ensuring the stability of the national economy by diversifying its composition and geography, as well as expanding the export potential of the regions, have become more active. Value Added Tax (VAT) is a key component of modern tax systems worldwide, providing governments with an important source of revenue and influencing economic decisions. Its introduction and development in different countries are influenced by many socio-economic factors, political reasons, and international trends. In the case of Uzbekistan, the introduction of VAT is an important stage in the country's financial history, which is closely related to the direction of overall economic development. Our study aims to study the emergence of VAT in Uzbekistan, its implementation and problems, as well as subsequent reforms. By analyzing the process of VAT introduction in Uzbekistan, this study aims to reveal its impact on the economy, its effectiveness in generating revenues, and its importance in creating tax and budget policy. The development of the value-added tax (VAT) system in Uzbekistan has been influenced by both domestic reforms and international experience, which indicates a stable growth in its fiscal policy. The formation of the VAT system in 8 ACADEMIC RESEARCH IN MODERN SCIENCE International scientific-online conference the country and its effectiveness have occurred as a result of global factors and local changes aimed at improving the tax system. An analysis of European countries shows that, despite the relatively low VAT rates, Uzbekistan has achieved effective reforms aimed at easing the economic burden. The VAT system of Uzbekistan has changed, adopting the successful experiences of other countries, to reduce disparities in the tax collection process and transition to a more equitable and sustainable tax system. Uzbekistan's VAT policy has been shaped primarily by reforms implemented under the influence of international practices in order to ensure sustainable economic growth. Some specific features of tax rates are noted in terms of improving the system for collecting value-added tax in the economy. Firstly, in a market economy, taxes serve not only as the main source of state budget revenues, but also value added tax is an important tool in state management of the economy and financing of priority sectors. In order to bring the country's economy to sustainable growth, it is necessary to improve the mechanisms for collecting value added tax, since this tax accounts for approximately 50 percent of state budget revenues. Therefore, great attention is paid to improving the tax system in the country. Secondly, one of the problems inherent in indirect taxes is the high tax rates, and reducing it to 10 percent instead of 15 percent would be desirable for enterprises to stimulate entrepreneurship. Value Added Tax (VAT) plays a significant role in Uzbekistan as a key fiscal instrument. Recent measures are aimed at improving the VAT collection mechanism and increasing the number of business entities. Work is underway to increase the competitiveness of the national economy by reducing tax rates, while increasing VAT revenues without placing an excessive burden on taxpayers. The tax administration, using foreign experience, has implemented improvements aimed at solving local problems in tax collection and compliance. This, in turn, is part of a comprehensive reform aimed at ensuring the stability of state budget revenues. The VAT system in Uzbekistan is developing steadily, and important reforms are being implemented to increase the efficiency and fairness of the tax collection process, as well as to support the country's economic growth in accordance with international experience. Speaking about the history of the emergence and development of value added tax (VAT), the following can be noted. VAT was invented in Germany at the beginning of the 20th century by Wilhelm von S