Navoi Mining and Metallurgical Company (NMMC), a cornerstone of Uzbekistan’s mining industry known for its significant contributions to gold and uranium production, remains as the country's biggest tax for 2024, contributing a staggering UZS 11.425 trillion ($903 mn). In the private sector, UZBAT, a prominent player in the tobacco industry, stands out as the largest taxpayer, with a contribution of UZS 1.348 trillion ($107 mn). The country’s top 20 Tax Payers were announced July 13 with reports showing that, the combined total tax contributions for the top 10 state-owned enterprises (SOEs) and the top 10 private sector companies in Uzbekistan for 2024 amounts to UZS 29.739 trillion ($2,349.5mn).
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State-Owned Enterprises (SOEs)
1. Navoi Mining and Metallurgical Combinat JSC - UZS 11.425 trillion ($903 mn)
2. Almalyk Mining and Metallurgical Combinat JSC - UZS 3.949 trillion ($312 mn)
3. UzGAStraDE JSC - UZS 2.149 trillion ($170 mn)
4. Hududgaztaminot JSC - UZS 2.017 trillion ($159 mn)
5. Uzbekneftegaz JSC - UZS 1.766 trillion ($140 mn)
6. Navoiuran DK - UZS 1.441 trillion ($114 mn)
7. UzAuto Motors JSC - UZS 984 bn ($78 mn)
8. Uzbek National Bank JSC - UZS 746 bn ($59 mn)
9. Uzbektelecom JSC - UZS 638 bn ($50 mn)
10. Uztransgaz JSC - UZS 600 bn ($47 mn)
Total for Top 10 SOEs: UZS 25.714 trillion ($2.032 bn)
The SOEs, led by Navoi Mining and Metallurgical Combinat with UZS 11.425 trillion ($903mn) and followed by Almalyk Mining and Metallurgical Combinat with UZS 3.949 trillion ($312mn) and UzGAStraDE with UZS 2.149 trillion ($170mn), dominate with a total of UZS 25.714 trillion ($2,032mn).
Private Sector Companies
1. UZBAT JSC JV - UZS 1.348 trillion ($107 mn)
2. Enter Engineering LTD - UZS 542 bn ($43 mn)
3. Tashkent Tobacco LLC - UZS 434 bn ($34 mn)
4. Kapitalbank ATB - UZS 339 bn ($27 mn)
5. Unitel LLC JV - UZS 292 bn ($23 mn)
6. GID License Plate LLC FC - UZS 268 bn ($21 mn)
7. Hamkorbank ATB - UZS 238 bn ($19 mn)
8. ADM Jizzakh LLC - UZS 200 bn ($16 mn)
9. ERIELL GMH DM - UZS 191 bn ($15 mn)
10. Epsilon Development Company LLC FC - UZS 175 bn ($14 mn)
Total for Top 10 Private Sector Companies: UZS 4.025 trillion ($318 mn)
Meanwhile, the private sector, headed by UZBAT with UZS 1.348 trillion ($107mn), Enter Engineering with UZS 542bn ($43mn), and Tashkent Tobacco with UZS 434bn ($34mn), adds a noteworthy UZS 4.025 trillion ($318mn).
Comparison with Q1 2024 Tax Payments
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Comparing the tax contributions of the first half of 2024 with those of 1Q24 reveals some noteworthy trends. In Q1 2024, Uzbekistan's top 10 state-owned enterprises (SOEs) paid approximately $1.3 bn in taxes, with NMMC leading at $606 mn. The latest data shows that NMMC has almost doubled its contribution, which is expected. In contrast, the private sector's top taxpayer, UZBAT, contributed $107 mn in H1 2024, slightly higher than its Q1 2024 payment of $66 mn, indicating steady growth.
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