Wed 04 2024 08:58:36

Tashkent, Uzbekistan (UzDaily.com) – President of Uzbekistan Shavkat Mirziyoyev signed a law to introduce additions to the Tax Code.

According to the law, business entities included in the Program “20,000 entrepreneurs – 500,000 qualified specialists” (with the exception of business entities registered in the city of Tashkent), on the basis of “cooperation agreements”, are provided with installments for the payment of certain taxes and turnover tax for the following periods depending on the number of new jobs created by these entities:

up to 3 months – when creating from 51 to 100 new jobs;

up to 6 months – when creating from 101 to 200 new jobs;

up to 12 months – when creating over 200 new jobs.

Also, until 1 January 2025, business entities included in the Program “20,000 entrepreneurs – 500,000 qualified specialists” pay property tax for legal entities and land tax for legal entities at tax rates reduced by:

50 percent of the established tax rate - when they create from 51 to 100 new jobs;

75 percent of the established tax rate - when they create from 101 to 200 new jobs;

when more than 200 new jobs are created, they are exempt from paying these taxes.

The law comes into force on the date of official publication.