Tashkent, Uzbekistan (UzDaily.com) -- On 11 January 2023, the Committee of the Legislative Chamber of the Oliy Majlis on budget and economic reforms preliminary considered the draft law "On amendments and additions to the Tax Code of the Republic of Uzbekistan in connection with the improvement of certain provisions of the procedure for calculating taxes".

It was noted that the document was developed in order to cancel the application of increased rates of property tax and land tax in relation to owners of unused objects, improve the procedure for taxing land plots provided to state bodies, institutions and organizations on the right of permanent use and leased to other organizations.

The document, from 1 July 2022, cancels the procedure for establishing increased rates of property tax and land tax in relation to unused real estate and suspends benefits.

In addition, in the period until 1 January 2025, specialized centers of enterprises in the electrical engineering industry are expected to pay property tax and land tax in terms of facilities used by the centers and land occupied by them, in the amount of 1 percent of the accrued amount of these taxes, as well as social tax at a tax rate of 1 percent.

According to the deputies, the document will serve to improve the country's tax system, improve the business environment, provide additional social support to citizens and protect their property rights.

Following the discussion, the committee made a decision based on the results of the preliminary consideration of the bill.