What changes are planned in the Tax Code for 2025, and what provisions will remain unchanged?

Key Tax Rates for 2025

• VAT – 12%
• Corporate Income Tax – 15%
• Personal Income Tax – 12%
• Property Tax (legal entities) – 1.5%
• Land Tax (agricultural land) – 0.95%
• Social Tax – 12% (25% for budgetary organizations)
• Turnover Tax – 4%

Main Changes

VAT

• VAT refunds on exports are simplified – based on electronic customs data
• Exemptions removed for disability organizations and passenger transport
• State property sales, including undeveloped non-agricultural land, are VAT-exempt

Excise Tax

• Excise tax on mobile services abolished (previously 10%)
• Excise rates equalized for importers and local producers (alcohol, tobacco, spirits)
• Fuel excise rates increased by 10%

Exports

• 0% income tax rate for export income abolished – export revenue is included in turnover tax base

E-commerce

• Corporate Income Tax – 10%
• Turnover Tax – 3%

Fixed Turnover Tax

• Turnover up to 500 million UZS – 30 million UZS tax
• Turnover above 500 million UZS – 40 million UZS tax
• This regime is valid until January 1, 2026

Property Tax

• Minimum taxable property values: Tashkent – 3.3 million UZS/m²; Nukus & regions – 2.2 million; others – 1.3 million
• Property tax for individuals indexed by 10%

Land Tax

• Land tax rates indexed by an average of 10%

Support for IT Sector

• Tax incentives for IT Park residents extended from 2028 to 2040 (for exporters & IT training centers)
• Dividend tax reduced to 5% for foreign founders of export-oriented companies
• New tax benefits for non-residents providing services to IT Park residents

Social Support

• 1% social tax for low-income families
• 1% PIT and social tax for students in schools, colleges, and technical institutions
• Tax holidays for young entrepreneurs in mobile trade

Use of Natural Resources

• Water resource tax rates indexed
• Incentive coefficients for water-saving technologies introduced
• New subsoil use tax rates established

Procedural Change

Starting in 2025, all tax rate and benefit changes will only take effect from the beginning of the calendar year.