On January 31st of the current year, a roundtable discussion on the topic “International Financial Reporting Standards, Taxes, and Taxation” was held at the Graduate School of Business and Entrepreneurship.

The organized roundtable was attended by representatives from the Ministry of Economy and Finance, RANEPA (Russian Presidential Academy of National Economy and Public Administration), the Research Financial Institute of the Ministry of Finance of the Russian Federation, the National Association of Accountants and Auditors of Uzbekistan, the Chamber of Tax Consultants, as well as representatives of major auditing companies.

The event was organized to facilitate the exchange of opinions and experiences related to improving the system for training professionals in the field of accounting and auditing according to international standards.

The current focus of the discussion was on the topic of tax administration. Modern challenges in the field of tax administration present an urgent task for businesses and governments alike – to enhance the efficiency and transparency of the system.

Key problems faced by the tax administration system are associated with the quality of management and structural deficiencies within the system itself. This affects the effectiveness of control, monitoring compliance with tax legislation, and the overall interaction between businesses and the government.

Additionally, the processes of digitizing accounting and auditing, interpreting the requirements of international financial reporting standards, and exploring opportunities for an accelerated transition to international accounting and financial reporting standards were considered.

The widespread implementation of IT technologies ensures transparency in business, reduces the scope of the shadow economy, and supports the fight against unfair competition.

The event was concluded with a successful exchange of ideas and experiences, along with discussions on the prospects for development in the field of accounting and taxation in Uzbekistan.