Uzbekistan plans to reduce the VAT rate from 2023

In the Х Congress of the Liberal Democratic Party, the President of Uzbekistan, in his election programme, stated that the VAT rate would be reduced from 15% to 12%.

The previous reduction of VAT in 2019 in the republic allowed to reduce the tax expenses of entrepreneurs of about UZS 10 trillion.

In addition, the President announced a reduction in profit tax for certain categories of business – from 20% to 15%. The individual business categories are as follows:

• banks;
• mobile operators;
• manufacturers of cement and polyethylene pellets;
• entrepreneurs who profit from the provision of services in markets and shopping malls.