Partial VAT is refunded for some entrepreneurs

A portion of the VAT will be refunded to certain entrepreneurs, according to 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.

The decree states that from October 1, 2024, for entrepreneurs providing tour operator and hotel services, and from January 1, 2025, to January 1, 2028, a portion of the VAT paid by the 25th of each month will be refunded from the republican budget in the following amounts:

1. Non-cash portion of monthly turnover:

• 40% of the VAT paid to the budget for catering establishments with non-cash turnover exceeding 60%.
• 20% of the VAT paid to the budget for catering establishments with non-cash turnover below 60%.

      2. Entrepreneurs providing tour operator and hotel services: 20% of the VAT paid to the budget.

The document also states that from November 1, 2024, a register of factors that pose a high risk to human life and health will be introduced and made accessible to everyone.

Starting from January 1, 2025, the supervisory bodies will be allowed to suspend the activities of entrepreneurs only based on the factors included in the Register.

Moreover, from January 1, 2025, the "Risk Analysis" electronic system will be introduced by the supervisory bodies to assess the risk of criminal activities within entrepreneurs' operations.

It is also worth noting that the decree reports the reduction of the additional payment for excess electricity and natural gas consumption by entrepreneurs by 10 times, and the profit tax rate for catering establishments will be reduced by 50%.