Uzbekistan will extend tax benefits for service and trade businesses, but with some modifications.
Uzbekistan, Tashkent – According to AN Podrobno.uz, President Shavkat Mirziyoyev approved a proposal during a meeting on February 7 to extend tax benefits on social contributions for service and trade enterprises for an additional three years. However, the 1% rate will now apply exclusively to employees of service businesses who are under 30 years old and earn a minimum salary of 3 million soums, as reported by a Podrobno.uz correspondent.
https://podrobno.uz/cat/economic/v-uzbekistane-prodlyat-lgoty-po-sotsialnomu-nalogu-dlya-predpriyatiy-sfery-uslug-i-torgovli-no-s-nek/2025-02-08 08:12:38
During the meeting, it was noted that the benefits introduced in April 2022 enabled many companies to come out of the shadows, officially register salaries, and increase their payroll funds. As a result of these measures, the number of enterprises grew by 1.5 times, and the workforce increased by 220,000 individuals. Additional tax revenues amounted to 2.1 trillion sums.
Furthermore, the president announced an increase in oversight of companies that pay gray salaries and engage in illegal activities.
Additionally, businesses in the construction, trade, and public catering sectors will have the opportunity to enter into short-term and simplified labor contracts, including hourly and piece-rate pay.