The procedure for deferring VAT payment has been established
Government Decree (No. 76, February 10, 2020) approved the Regulation on the procedure for deferring the payment of value added tax for payers of value added tax when importing goods (works, services).
In accordance with the decree, until October 1, 2020, the process of deferring VAT payment for VAT payers when importing goods (works, services) will be automated.
In accordance with the Regulation approved by the decree, in order to be able to extend the period for payment of VAT, the taxpayer submits an application and a document confirming the provision of VAT payment to the state customs authority.
The body of the state customs service within 5 working days makes a decision on the grant or refusal to provide an opportunity to extend the deadline for payment of VAT.
In case of refusal to provide the possibility of extending the term, the taxpayer will be notified in writing within 1 business day of the reasons for the refusal.
When providing the possibility of extending the term, its amount and validity period are indicated.
For information, according to the Decree of the President of June 27, 2019 No. UP-5755, upon cancellation of previously granted benefits, the use of mechanisms for granting VAT payers a deferral in paying value added tax when importing goods (works, services) for up to 120 days is established instead of exemption from payment of tax when importing goods, as well as when importing works (services).
Source: uzdaily.uz