VAT will be reduced to 12% from 2023

Value-added tax in Uzbekistan will be reduced from 15% to 12%.  This was discussed on 22 August, at a meeting of the president of Uzbekistan Shavkat Mirziyoyev with entrepreneurs.

It was noted in the open dialogue that one of the most problematic issues for small and medium-sized businesses is the calculation and refund of value-added tax.

In an open dialogue with entrepreneurs in 2021, the president promised to continue the course of reducing the tax burden on businesses and further reduce the value-added tax rate.

“I have to say frankly, there were those who suggested that “the economy has not yet fully recovered due to the pandemic, the situation in the world economy is not good, so let’s postpone it”.

However, I can assure you that we will never retreat from the path of reforms and from 1 January 2023, we will reduce the value-added tax rate to 12%!” - Shavkat Mirziyoyev said.