Tax Risk Assessment and Management in Private Sector: Evidence from Uzbekistan

Abstract

Risks always obscure the development and stability of enterprises by affecting the profitability and losses in market share, total bankruptcy or closedowns. Absolute impact is often encountered in tax risks which are common factor derived from tax avoidance, tax aggressiveness and mostly unawareness of changes in legislature. This paper studies the tax risk management practices and examines the possibilities of country-specific tax risk management framework for private sector of Uzbekistan based on international best practices and specific features of Uzbek economy.

Keywords: Tax risk, tax avoidance, tax aggressiveness, tax risk map, private sector, Uzbekistan