The medium-sized business sector in Uzbekistan showcased significant fiscal responsibility in the fiscal year spanning from January to December 2023. As per the recent reports, a total of 16,082 medium-sized enterprises collectively contributed more than UZS 18.6 trillion ($1.5bn) to the country's tax revenue, marking a substantial financial injection into the economy.
Out of this total tax revenue, UZS 563.3bn ($44.8mn) was attributed to 20 prominent organizations within the medium-sized business segment. Their combined trade turnover exceeded UZS 1.4 trillion ($111.4mn), while they availed tax benefits totalling UZS 29.1bn ($2.3mn).
Breakdown of Tax Revenues
The contributions made by these top 20 medium-sized businesses were further dissected by type of taxes:
- Excise Tax: UZS 195bn ($15.5mn)
- Value-Added Tax: UZS 150.8bn ($12mn)
- Income Tax: UZS 82.8bn ($6.6mn)
- Personal Income Tax: UZS 47.3bn ($3.8mn)
- Social Tax: UZS 47.1bn ($3.7mn)
- Other Taxes: UZS 40.3bn ($3.2mn)
Top 10 Taxpayers Among Medium-Sized Businesses
Among the leading contributors within the medium-sized business segment, the top 10 taxpayers and their respective contributions were identified as follows:
- Far-Vab - $4mn
- Elsun-Sharob - $3mn
- Shahrisabz Vino-Aroq - $3mn
- Shangfeng-Bridge of Friendship - $2.9mn
- Worleyparsons Uzbekistan Engineering - $2.6mn
- Hengyuan Cement - $2.6mn
- Bolgaria-Sharob - $2.3mn
- Raupxon - $2.3mn
- Minora Qurish Ekspeditsiyasi - $2.2 mn
- O'zvagontamir - $2mn
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