Profit tax rate for some enterprises will be reduced by 50%

The profit tax rate for catering establishments will be reduced by 50%. This is stipulated in the Presidential Decree "On Measures to Implement the Tasks Set in the Fourth Open Dialogue of the President of the Republic of Uzbekistan with Entrepreneurs," adopted on August 30.

According to the decree, when reimbursing the amount of value-added tax (VAT) on export operations:

• Taxpayers are not required to submit documents to the tax authorities that are attached to goods with a customs authority mark at the transfer point from the customs territory of Uzbekistan, confirming that the goods have been sent to the designated country;
• The information provided by customs authorities to the tax authorities, through real-time electronic information exchange, confirming that the goods have crossed the customs border, will serve as the basis for verifying that the goods have been exported.

If the contract for importing equipment and/or components specifies a delivery period of more than 180 days, the delivery period indicated in the contract will be recognized as the period for the repatriation of assets for this operation.

From January 1, 2025, to January 1, 2028, the profit tax rate for catering establishments will be reduced by 50%.

We also remind you that this decree announced that the additional payment for excess electricity and natural gas consumption will be reduced by ten times.