Today, January 25, the International Press Club hosted a session dedicated to the analysis of the President’s address to the parliament. Finance Minister Jamshid Kuchkarov, who attended the session, spoke about the shadow economy.

“According to various estimates, the shadow economy now accounts for about 45 percent of our national economy. The first step to solve the problem has taken, tax reform has been implemented. Secondly, in the new tax system, if businesses pay VAT, this VAT will be invoiced. With so many paper invoices, it is impossible to see the action of one coupon, that is, from me to him, from him to others.

Thus, we are launching electronic invoices. The taxpayer shall enter all relevant information through his/her personal account in the Tax Committee’s website. On this basis, we monitor the movement of a particular product. This product should not disappear. When a product, item or service is sold and taxes are paid, then this can be considered that it will reach its owner. The digital economy improves labor productivity. That is why the digital economy is being paid close attention,” Kun.uz correspondent quoted Jamshid Kuchkarov as saying.