Uzbekistan Reduces Taxes for Clothing and Footwear Manufacturers and Creative Park Residents

Tashkent, Uzbekistan (UzDaily.com) — President Shavkat Mirziyoyev of Uzbekistan has signed a law introducing tax incentives for producers of clothing, footwear, and leather goods.

Until 2028, companies in these sectors will pay corporate profit tax at a rate of 2% and social tax at 1%.

The law also simplifies the procedure for entrepreneurs to cease their activities: this can now be done by personal decision, court order, or decision of the registering authority.

Additionally, the procedure for submitting tax reports is clarified: reductions in assessed personal income and social taxes under the incentives are allowed only after verification by the tax authorities.

Income from bonds issued by mortgage refinancing organizations is exempt from corporate profit tax until 1 January 2030.

Furthermore, residents of the Creative Park will, from 1 May 2025, to 1 January 2031, pay personal income and social taxes at rates reduced by 50%, as well as turnover tax regardless of their revenue size.