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    Uzbekistan Money Economics

    Uzbekistan's top 10 SOEs pay $1.3bn tax in 1Q24

    Uzbekistan's top 10 SOEs pay $1.3bn tax in 1Q24

    The Uzbekistani fiscal landscape witnessed a milestone with the announcement on May 13, of the top 20 largest taxpayers in the country. Reports show that, during the period of January to April 2024, a total of 2,187 large taxpayers contributed to tax revenues exceeding UZS 32.9 trillion ($2.6 bn).

    Photo: Top 10 Uzbekistan's state owned enterprises pay $1.3bn tax in 1Q24  
    Source: Daryo

    Of this substantial sum, the top 10 largest taxpayers with state ownership accounted for approximately UZS 16.2 trillion ($1.3 bn). Leading this elite group is the  Navoi Mining and Metallurgical Combine (NMMC) which contributed more than UZS 7.7 trillion ($606 mn) in tax payments.

    Additionally, the private sector made a noteworthy contribution, with the top 10 largest taxpayers in this category accounting for over UZS 2.5 trillion ($197 mn). Among them, UzBAT stood out with tax revenues amounting to UZS 843 bn ($66 mn).

    Construction enterprises also played a significant role in Uzbekistan's tax revenue, with 33,090 legal entities in this sector contributing more than UZS 2.1 trillion ($165 mn) in taxes during January to March 2024. 20 enterprises alone accounted for UZS 262.8 bn ($21 mn), reflecting a diverse tax contribution across various categories:

    • VAT: 133.4 bn ($10.5 mn)
    • Income tax from individuals: UZS 41.6 bn ($3.3 mn)
    • Profit tax: UZS 40.8 bn ($3.2 mn)
    • Social tax: UZS 32.6 bn ($2.6 mn)
    • Property tax: UZS 8.8 bn ($692,253)
    • Land tax: UZS 5.2 bn ($409,059)
    • Other taxes: UZS 0.3 bn ($23,599)

    Furthermore, the production sector demonstrated robust tax compliance, with 65,204 legal entities contributing more than UZS 8.6 trillion ($677 mn) in taxes during the same period. Among these, the top 20 taxpayers accounted for UZS 3.4 trillion ($267 mn), reflecting their substantial fiscal responsibility.

    Uzbekistan's overall tax compliance rate on a national scale stood high at 96% during January to March 2024. Notably, the city of Tashkent, a prominent economic hub, demonstrated tax compliance, recording a rate of 97%.

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    14.05.2024, 10:38   Comments (0)   1236
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    Khadicha Abdurashidova

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