TASHKENT, Uzbekistan, November 28. The number of VAT payers in Uzbekistan amounted to 192,059 as of November 1, 2023, Trend reports.
As per data provided by Uzbekistan’s State Tax Service, the recorded number reflects a significant increase of 13.2 percent compared to the corresponding period of 2022.
Among the various sectors, the highest number of VAT payers is observed in:
Trade – 59,600
Agriculture – 48,100
Industry – 27,800
Additionally, the notable growth in the number of VAT payers was recorded in the following sectors:
ICT– 41.4 percent
Transport – 36.7 percent
Provision of services – 17.8 percent
The change can be accounted to by the fact that the VAT has been reduced from 15 percent to 12 percent since the beginning of 2023.
As the data by Uzbekistan’s Ministry of Economy and Finance shows, the state budget revenues amounted to 38.1 trillion soums ($3.1 billion), two thirds of which came from tax payments.
The increased expenditures, exceeding 50 trillion soums ($4 billion), were mainly the result of an increase in VAT refund by 1.4 trillion soums ($115.1 million).
