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Finance 19/09/2024 Uzbekistan to abolish certain tax benefits starting from 2025

Uzbekistan to abolish certain tax benefits starting from 2025

Tashkent, Uzbekistan (UzDaily.com) — On 18 September, President Shavkat Mirziyoyev signed a decree concerning the abolition of several tax benefits, according to the Ministry of Justice.

Starting from 1 January 2025, the exemption from value-added tax (VAT) for passenger transport services provided at uniform rates will be abolished.

Currently, urban public transport, including buses, subways, trolleybuses, and commuter trains, is exempt from VAT. The removal of this exemption is expected to lead to an increase in fare prices. The current VAT rate is 12%.

Additionally, VAT exemptions will be lifted for companies where individuals with disabilities make up at least 50% of the total workforce and receive at least 50% of the total payroll.

Starting next year, the exemption from land tax for plots where new orchards, vineyards, and mulberry plantations have been established will also be eliminated. Instead, a new regulation will be introduced, reducing the tax on such plots by 50%.

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