The Tax Committee of Uzbekistan has released data regarding the tax benefits extended to business entities operating in the country during the year 2023. As per the committee's report, over UZS 13.2 trillion ($1bn) of tax benefits were applied to enterprises across various sectors.
Tax Credits in Production Sector
In 2023, a total of 67,322 legal entities engaged in production activities contributed approximately UZS 41.6 trillion ($3.3bn) in taxes. Notably, 20 taxpayers, excluding NMMC and AMMC, accounted for UZS 18.9 trillion ($1.5bn) of this tax revenue. However, these top taxpayers also benefited from nearly UZS 2.5 trillion ($199.5mn) in tax benefits.
Among the major contributors to tax revenue were state-owned enterprises, including:
- Uzbekneftgas: $383mn
- UzAutoMotors: $199.5mn
Other significant contributors to tax revenue include:
- British-American Tobacco Uzbekistan (UzBAT): $192mn
- Thermal Power Plants: $120mn
- Bukhara Oil refinery: $80mn
- Navoi Azot: $696,000
- Shurtan gas chemical complex: $592,000
- Uz-Kor gas chemical: $480,000
- Tashkent tobacco: $422,000
- UNG Uzbekistan GTL: $392,000
The provision of tax benefits aims to incentivize business entities to contribute to the country's economic growth and development. These benefits play a crucial role in promoting investment, job creation, and overall business expansion within Uzbekistan's diverse economic landscape.
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