President signs a resolution on reduction of VAT rate from 20% to 15%

In Uzbekistan, the value added tax amount was reduced from 20% to 15%.

According to Kun.uz source, President Shavkat Mirziyoev signed the resolution on reduction of the current VAT rate from 20% to 15% in order to further support business entities.

The new tax rate is expected to come into force on October 1.

The text of the document will be released shortly.

The President instructed the Ministry of Finance to reduce the VAT rate during a video-conference meeting on September 11.

A 20% tax rate was set in 2000 and has not been revised in the last 19 years.