Uzbek President announced a reduction in VAT to 12% from 2023
Tashkent, Uzbekistan (UzDaily.com) -- At the X Congress of the Liberal Democratic Party of Uzbekistan (UzLiDeP) on 9 September, Shavkat Mirziyoyev, noting the reforms implemented in the country over the five years of his presidency, presented an election program called the "New Uzbekistan Strategy".
The head of state also announced to the congress that it is planned to reduce the property tax, introduce a single tax on real estate, and more.
The President announced plans to reduce the property tax rate from 2% to 1.5% in 2022, thanks to which entrepreneurs will have 600-700 billion a year at their disposal.
Another innovation - from 2023, a single real estate tax will be introduced, combining property and land taxes of legal entities.
Currently, income tax rates in the banking, financial and telecommunications sectors differ. According to him, income tax will be reduced from 20% to 15% and will be the same for all entrepreneurs.
The monopoly on 25 types of activities, such as road construction, heating, and improvement services, will be abolished, and now a wide range of opportunities will open up for business in these areas.
“The monopoly on 25 types of activities, such as road construction, heat supply, improvement services, will be canceled. Business will have a wide range of opportunities in these areas,” Shavkat Mirziyoyev said.