The Ministry of Economy and Finance announced the 10 largest tax payers of Uzbekistan. These companies are expected to provide 31.2% of state budget revenues in 2023.
1. Navoi Mining and Metallurgical Combine (NMMC) – 14.8%
2. Almalyk Mining and Metallurgical Combine (AMMC) – 8.1%
3. Uzbekneftegaz JSC – 1.8%
4. Uztransgaz JSC – 1.7%
5. Khududgaztaminot JSC – 1.2%
6. Uzbat JSC – 1.1%
7. Uzavtosanoat JSC – 0.9%
8. Bukhara Oil Refinery LLC – 0.6%
9. JV Uz-Kor Gas Chemical LLC – 0.6%
10. Uzbekistan Metallurgical Combine JSC – 0.4%
In 2022, the share of these companies in the state budget revenues was predicted to be 36.44%.
In 2018, 34% of the forecasted revenues were accounted for by the 20 largest taxpayers, which means that the sources of state budget revenues were more diversified.
At that time, the share of Uztransgaz was 5.1%, NMMC – 5%, AMMC – 3.1%. Also, the list included Kizilkumcement – 1.2%, Fergana Oil Refinery – 1.2%, Coscom (Ucell) – 1%, Asia Trans Gas – operator of the Uzbekistan-China gas pipeline – 1.2%, Akhangarancement – 0.6%, Tashkentvino – 1.1% and others. Some of these companies were privatized.
Thus, the state budget in 2023 is more dependent on large state-owned companies than in 2018. In 2022, the share of NMMC and AMMC was 17.82% and 9.4% respectively, in 2021 – 20.1% and 6.4%, in 2020 – 13.5% and 4.6%, in 2019 – 6.8% and 3.6%.
