Uzbekistan’s Tax Committee Considers Possible Reduction of VAT and Corporate Income Tax Rates

Tashkent, Uzbekistan (UzDaily.com) — The Tax Committee of Uzbekistan is exploring the possibility of lowering value-added tax (VAT) and corporate income tax rates in the long term, Deputy Chairman Jahongir Abdiev said on 17 February during a tax forum.

“In our short-term plans—up to 2028—no changes to the VAT or corporate income tax rates are envisaged. As the Tax Committee, we also do not see prospects for their adjustment in the foreseeable future,” Abdiev noted.

At the same time, he acknowledged that reductions to the current rates—12% for VAT and 15% for corporate income tax—could be considered if the shadow economy is reduced and the share of tax revenues in GDP increases. “In such a case, only a rate reduction would be considered,” the deputy head of the committee emphasized.

According to the draft of the updated Uzbekistan-2030 Strategy, the share of tax revenues in GDP is expected to rise from 16% in 2026 to 19.2% by 2030. The forecasted targets are 17% in 2027, 18% in 2028, and 18.7% in 2029.

If the country’s GDP exceeds US$240 billion, tax revenues could surpass US$46 billion by 2030.