Saturday, 25, May, 2024

On December 29, the President of Uzbekistan approved amendments to the Tax Code of Uzbekistan. According to the Ministry of Justice, the amendments introduced a special rental tax for the extraction of minerals. Its payers are legal entities engaged in the extraction of precious, non-ferrous and radioactive metals, rare and rare earth elements and their separation from mineral products, and in the extraction of hydrocarbons.

The rate of this tax is set at 25% of the tax base.

Also, accounting of tax benefits is carried out through information systems with the issuance of a special identification code.

New tax rates are set for tobacco and alcohol products. The following rates are set for cigarettes with a filter, without a filter, cigarettes, cigarillos (cigaritas), bidis, kreteks:

  • for imports - 360 thousand soums/1000 pieces + 10% (previously - 400 thousand soums/1000 pieces + 10%);
  • for production - from January 1, 2022: 185 thousand soums/1,000 pieces + 10%, from June 1, 2022: 203.5 thousand soums/1,000 pieces + 10% (earlier from October 1, 2021: 185 thousand soums/1,000 pieces + 10%).

For vodka, cognac and other alcoholic beverages:

  • for imports - 45 thousand soums/1 liter (previously for 50 thousand soums/1 liter);
  • for production (for 1 dal of finished products) from January 1, 2022 - 125.1 thousand soums, from June 1, 2022 - 138 thousand soums (earlier from October 1, 2021 - 125.1 thousand soums).

Excise taxes on mobile services and sugar remained unchanged (15% and 20%, respectively).

The tax reliefs establish that the following are not subject to taxation:

  • taxpayer's income and wages allocated for educational loans received from banks for training in vocational and higher educational institutions;
  • rental income for students;
  • the amount of wages and other income of the taxpayer, up to 8 times the size of Basic Value (BV), which will be used to pay membership fees to international organizations and payments to non-state educational institutions for retraining and advanced training.

The tax on property of legal entities has been reduced from 2% to 1.5%, on facilities, the construction of which is not completed within the scheduled time frame, from 4% to 3%.

Property owned by orphans and children left without parental care shall be waived from taxation.

In the period from September 1, 2021 to December 31, 2021, pubs and restaurants are exempt from paying land tax on legal entities and property tax of legal entities.

For individual entrepreneurs operating in provinces of the country (with the exception of Tashkent city), the established social tax rate is set at 50% of BV from January 1, 2022 to January 1, 2023.

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