Value added tax (VAT) rate will be reduced from 15% to 12% from 2023. This is stated in the president’s New Uzbekistan’s Development Strategy of for 2022-2026 Decree.
According to the Decree, the value added tax rate will be reduced to 12 percent from 2023, the income tax rate for business as banking and finance, telecommunications sectors will be cut to 15 percent.
The Ministry of Finance, together with the State Tax Committee, was instructed to submit to the Cabinet of Ministers amendments and addenda to the Tax Code of Uzbekistan.
