(Uzbekistan Tax News Reporter - 18 October 1996)
Assessment of excessive tax and subsequent overpayment of tax to the revenue resulting in lowering of the income tax base (technical error in calculation) does not give rise to penalties since it is not considered as causing any financial damage to the State.
Clarification based on Telegram of the State Taxation Committee of 29 July 1994 No. 11/1-30
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information contact David Simpson, Tax Manager, Tashkent office on tel: +750 2225 8600 or e-mail: David_Simpson@ru.coopers.com or enter a text search 'Coopers & Lybrand' and 'Business Monitor'.
Assessment of excessive tax and subsequent overpayment of tax to the revenue resulting in lowering of the income tax base (technical error in calculation) does not give rise to penalties since it is not considered as causing any financial damage to the State.
Clarification based on Telegram of the State Taxation Committee of 29 July 1994 No. 11/1-30
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information contact David Simpson, Tax Manager, Tashkent office on tel: +750 2225 8600 or e-mail: David_Simpson@ru.coopers.com or enter a text search 'Coopers & Lybrand' and 'Business Monitor'.
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