VATupdate

Uzbekistan Tax Agency Announces Tax Changes for 2023

The Uzbek State Tax Committee Jan. 16 announced the implementation of tax changes introduced under the 2023 budget. The announcement includes: 1) the reduction in the VAT rate, to 12 percent from 15 percent, effective Jan. 1; 2) an optional fixed tax amount for single turnover taxpayers of 20 million Uzbek som (US$1,762) per year for income up to 500 million som (US$44,000), and 30 million som (US$2,642) for income exceeding 500 million som; 3) reduced profit tax rates for companies with income of up to 10 billion som (US$883,392); and 4) a unified turnover tax rate of 4 percent …

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