Profit tax rate to be reduced to 7.5% in Karakalpakstan

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.