Analysis of Tax Benefits on Profit Tax

Аннотация

This article analyzes the scientific interpretation of the issues of stimulating income tax payers through tax credits, the legal basis for providing tax credits, as well as tax benefits provided for income tax. Keywords: Tax benefits, benefits, tax base, tax report. taxes and creating more favorable business conditions Introduction: The incentive function of taxes is one of for their recipients. the important tasks of the tax system, actively influencing the development of production, the Tax incentives are a type of legal privileges, since they efficient use of material, raw material, financial and are a reduction or complete non-payment of taxes and labor resources, accumulated property, that is, fees by the taxpayer in order to ensure the interests of reducing the volume of taxation. By reducing the tax economic relations within the framework of the burden, it is possible to stimulate the development of relevant process. [1] production, strengthen the financial situation and In her scientific works, N.R. Kuzieva made a number of investment activity. Tax incentives, unlike other means, proposals to further stimulate the attraction of foreign are aimed at encouraging or supporting taxpayers by investments to free economic zones operating in our reducing their tax obligations or creating other taxation Republic and to further improve the mechanism for the conditions that are more favorable than those of other effective operation of tax and customs privileges taxpayers. granted to enterprises with foreign investment. [3] Tax benefits granted to taxpayers under the profit tax F. Rakhmatullaeva defined tax privileges as a category must meet the following criteria: as follows: “privileges are a set of ways, rights and - exclusion of certain types of expenses from taxable obligations of a taxpayer to fully or partially reduce his profit; tax obligations in the manner established by law in order to regulate the economy by the state and solve - reduction of rates for certain types of organizations; social problems” - exemption from profit tax for certain types of In order to reveal the essence of tax benefits, Z. activities; Kurbanov and F. Akramov theoretically studied them - exemption from profit tax for certain types of into three groups: organizations; – full or partial exemption from taxes; - exemption from profit tax for certain types of – tax deductions; organizations for a certain period during the initial period of their activities. – tax credits (long-term deferred obligations for taxes and mandatory payments). [4] Literature review According to Z. Z. Urmonov, “tax benefit is the According to N.V. Balabanova and T. R. Valinurov, tax opportunity for taxpayers, in accordance with the Tax incentives are one of the methods of regulating indirect International Journal of Management and Economics Fundamental 75 https://theusajournals.com/index.php/ijmef International Journal of Management and Economics Fundamental (ISSN: 2771-2257) Code and other legislative acts, to reduce their tax of Uzbekistan No. PF-101 dated April 8, 2022 “On the liability, reduce the tax rate and tax base, not pay taxes next reforms to improve the business environment and and other mandatory payments or pay them in a create conditions for sustainable economic growth smaller amount.” [5] through the development of the private sector”, No. PF-287 dated December 30, 2022 “On measures to Based on the above, we can conclude that tax benefits classify the regions of the republic into categories and are provided to encourage taxpayers and attract introduce a tiered system of entrepreneurship foreign investments, support investors and create support”, No. PF-162 dated June 28, 2022 “On conditions for them. measures to create favorable conditions for business Empirical findings and discussion during the period of tax administration reform”, No. Decree of the President of the Republic of Uzbekistan PP-73 dated December 30, 2021 “On measures to No. PF-6019 dated July 6, 2020 “On additional ensure the implementation of the Law of the Republic measures to further develop the competitive of Uzbekistan “On the State Budget of the Republic of environment and reduce state participation in the Uzbekistan for 2022”, No. PP-471 dated December 30, economy” was adopted. This Decree was adopted in 2022 “On the Budget of the Republic of Uzbekistan for order to create a competitive environment in our 2023 The issues of granting tax privileges are also country, to reduce state participation in the economy, reflected in the decrees and resolutions "On measures to further reduce the negative impact of the monopoly to ensure the implementation of the Law of the of economic entities with state participation on the Republic of Uzbekistan "On the State Budget". competitiveness of the economy, to increase the The legal framework of the tax system of the Republic efficiency of the system of granting privileges and of Uzbekistan is improving. If we pay attention to all