Benefits are to be given to small businesses, and VAT is to be reduced from 15% to 12% in Uzbekistan. The State Tax Committee of Uzbekistan has recently issued a release on the reduction of VAT from 15% to 12% as of January 1, 2023. It was first announced by Shavgat Mirziyoyev, President of Uzbekistan at the International Congress Centre in August 2022.
Entrepreneurs with a turnover of up to 500 million soums will pay a fixed tax of 1.6 million soums, but with a turnover of up to 1 billion soums a fixed tax of 2.55 million soums per month, and they will be exempt from tax dividends and will not do accounts.
These opportunities will facilitate and ease business activities, and develop entrepreneurship in Uzbekistan.
