Starting in 2026, Uzbekistan will eliminate VAT on most agricultural products, excluding cotton and grain, benefiting around 48,000 farmers. This measure aims to reduce tax burdens, increase farm profitability from 5-7% to potentially 15%, and decrease the shadow economy. Farmers will retain more working capital for farm development, boosting agricultural output and transparency. A list of VAT-exempt products will be announced, and refunds will be processed via cashback within three days. The change is expected to provide farmers with an additional 400 billion soums annually.
Source: uzdaily.uz
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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