President Shavkat Mirziyoyev announced the introduction of tax benefits for entrepreneurs in response to pressing issues raised during open dialogues.
From now on, enterprises with an annual turnover of less than 10 billion soums will be exempt from advance profit tax payments. This means that approximately 14,000 entrepreneurs will have 1 trillion soums in working capital at their disposal.
In addition, a one-year "soft regime" will be introduced for entrepreneurs transitioning to the VAT system: profit tax will not be paid, fines for errors will not be imposed, and accountants' salaries will be tax-deductible.
Most importantly, penalties for errors amounting to 16 trillion soums identified during tax audits will be canceled. Entrepreneurs will have the opportunity to correct the shortcomings themselves by November 1 and start with a "clean slate."
