SPECIAL RENT TAX ON MINERAL EXTRACTION

The article examines the economic rationale, operating mechanism, and role of the special rent tax on mineral extraction in public fiscal policy. Using practical examples, it explains how the rent tax differs from royalties and corporate income tax, and why high global commodity prices do not necessarily result in excess profits. The article also reviews Uzbekistan’s current taxation framework for the extractive sector, relevant international practices, and key issues related to the effective administration of the rent tax.