Profit tax rate to be reduced to 7.5% in Karakalpakstan

The President supported the proposals presented by Amanbay Orinbayev, the candidate for chairmanship of the Jokargy Kenes of Karakalpakstan, and gave clear instructions to officials of ministries and departments to provide additional benefits in Karakalpakstan.

Photo: Presidential press service

In particular, in order to develop entrepreneurship in Karakalpakstan:

• the profit tax rate for the region will be lowered from 15% to 7.5%;
• the turnover tax rate will be reduced from 4% to 2% in the city of Nukus, in districts – from 2% to 1%, and in remote areas – from 1% to 0.5%;
• a draft resolution on reducing property and land tax rates by 2 times will be worked out.

Furthermore, this year, 200 billion soums will be allocated for family business programs in addition to the planned 650 billion soums.

#Shavkat Mirziyoyev #Karakalpakstan #profit tax rate