ECONOMIC ESSENCE OF TAXING REAL ESTATE OBJECTS IN UZBEKISTAN

Section: Articles Published Date: 2023-10-10 Pages: 211-213 Conference Proceedings Volume: INTERNATIONAL CONFERENCE ON MULTIDISCIPLINARY RESEARCH & PRACTICE

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Abstract

This article examines the economic essence of taxing real estate objects in Uzbekistan, shedding light on the key factors and implications associated with the taxation system. Real estate taxation plays a crucial role in generating revenue for the Uzbekistan government and serves as an instrument for fiscal policy and economic development.

The article provides an overview of the current tax framework for real estate in Uzbekistan, highlighting the various forms of taxes imposed on different types of real estate objects. It explores the principle of tax assessment, including the determination of taxable base, rates, exemptions, and deductions. Additionally, the article discusses the administrative procedures and compliance requirements related to real estate taxation.

Furthermore, the economic implications of taxing real estate objects are examined. The article analyzes the effects of real estate taxation on property owners, investors, and the overall housing market. It delves into the potential impact on property values, rental prices, and investment decisions. Moreover, it explores how real estate taxation influences the allocation of resources and the overall efficiency of the economy.

The article also addresses the challenges and opportunities associated with real estate taxation in Uzbekistan. It discusses the importance of a balanced and equitable tax system, taking into account the socioeconomic factors and the impact on different segments of society. The article highlights the need for effective tax administration, transparency, and accountability to ensure the fair implementation of real estate taxation.

Keywords

Taxing real estate objects, economic essence