Uzbekistan VAT cut to 15% Oct 2019
- Sep 26, 2019 | Richard Asquith
The Uzbek President has proposed a VAT reduction from 20% to 15%. The tax subsidy is intended to help small enterprises. The new rate will come into effect on 1 October 2019. The VAT reduction will cost around 10 trillion soums.
To help fund the cut, there will be an increase in excise taxes raising 200 billion soums. The country is also planning to extend the VAT net to foreign e-commerce businesses.