Shavkat Mirziyoyev announces new benefits to support businesses 

At the moment, President Shavkat Mirziyoyev is meeting with entrepreneurs at the Congress Hall in Tashkent.

During the meeting, the head of state put forward an initiative to determine a special approach to supporting enterprises, dividing them into categories.

In this case, enterprises will be classified according to their annual turnover and belong to the following categories:

- entities with an annual turnover of up to 1 billion soums - microbusiness; 
- entities with an annual turnover of up to 10 billion soums - small businesses;
- entities with an annual turnover of up to 100 billion soums - medium-sized businesses.

Based on this, from January 1, 2023, instead of the current turnover tax rates - from 4 to 25% - a single tax rate of 4% will be introduced for micro businesses.

At the same time, the current rates of 1 and 2% for entrepreneurs in remote areas and certain categories will remain.

Or, with a voluntary payment of 20-30 million soums per year, they will be released from the obligation to keep accounting records and submit reports to the tax authorities.

In addition, the President pointed to the need to increase the number of fast-growing medium-sized enterprises from the current 3.5 thousand to 10 thousand.

To do this, from January 1, 2023:

- enterprises that have switched from small to medium-sized businesses will pay only 50% of income tax within two years;
- 50% of the cost of property insurance will be compensated by the state; 
- simplified tax, financial and statistical reporting will be introduced for them; 
- a 20% quota for government purchases will be set, within the framework of these government purchases they will be paid an advance payment of 50% (currently 15%).