Zaripov Khusan Bakhodirovich,
Associate Professor of the Department of Taxes and Taxation,
Tashkent Financial Institute, PhD, Tashkent, Uzbekistan. Email: [email protected]
ORCID: 0009-0005-8939-5006
Abstract: In this article, the nature, characteristics and current problems of the mechanism of taxable profit administration based on the current tax legislation were highlighted. At the same time, the article examines the features of the profit tax elements in the practice of taxation, the results of the implementation of fiscal and regulatory tasks of the activities of the taxable profit administration. The economic content of the concept of profit, its formation, economic concepts such as accounting profit and net profit are expressed based on the views of economists. The specific aspects that arise in the process of tax base formation during the process of collecting the profit tax are described. It noted that economic benefit in the form of money or in kind, which is taken into account to the extent that it is possible to assess the benefit, is recognized as income. Specific features of determining economically justified expenses in the calculation of profit tax are studied. Economically justified outputs are described. Deduction from the taxable base is justified if it is made for the purpose of carrying out activities aimed at obtaining income, if it is necessary or serves to maintain or develop such business activity, and if the connection of expenses with business activity is clearly based. The role of profit tax revenues in the state budget revenues for the last 8 years has been analyzed. The composition of deductible and non-deductible expenses in the formation of the profit tax base, the accounting policy for taxation purposes is determined independently by the taxpayer. He gave recommendations on the development of practical guides and software products for calculating the profit tax base for all business entities that have switched to paying profit tax within the framework of the tax concept. Proposals were made regarding the feasibility of gradually transferring all business entities to paying profit tax, and setting the profit tax rate at 15 percent for commercial banks.
Key words: profit, taxable profit, profit tax, elements of profit tax, deductible and non-deductible expenses, results of financial and economic activity, state budget, tax concept, mechanism of taxable profit administration.