TASHKENT, Uzbekistan, January 15. Revenues to Uzbekistan's state budget amounted to 165.9 trillion soums ($13.4 billion) in 2023, Trend reports.
The data of the press service of Uzbekistan's Tax Committee shows that budget revenues increased by 17.4 trillion soums ($1.4 billion) compared to 2022.
Moreover, all regions of Uzbekistan have fulfilled the annual revenue forecast. Additional revenues amounted to 3.4 trillion soums ($275.3 million).
It is noted that tax revenues in the regions increased by 13 percent year-on-year. High growth rates were recorded in Jizzak (30 percent), Sirdarya (21 percent), Tashkent (19 percent) and Navoi (18 percent) regions.
The Tax Committee emphasizes that the imposition of financial fines on business entities in the amount of 1.3 trillion soums ($105.2 million) was also prevented.
Reduction of VAT rate from 15 percent to 12 percent left 9 trillion soums ($728.7 million) at the disposal of business entities and consumers.
Despite the reduction of the rate as a result of correct establishment of VAT administration, 34 trillion soums ($2.75 billion) were paid to the budget on this type of tax, and the revenues increased by 1.2 trillion soums ($97.1 million) or 4 percent year-on-year.
Furthermore, according to data published by Uzbekistan's Senate, the state economy is predicted to rise by 5.65.8 percent.
Consolidated budget receipts are expected to be 375 trillion soums ($30 billion), while expenses will be 427.6 trillion soums ($34.5 billion).
