Tax Committee reports threefold decline in growth of VAT payers in 2024

The Tax Committee has published an overview of the dynamics in the number of value-added tax (VAT) payers for 2024.

As of September 1, the number of VAT payers in Uzbekistan reached 197,819, an increase of 4.9% compared to the same period in 2023, when there were 188,528 registered payers.

However, the overall growth was lower than in 2023, when it was 14.8%. Despite the slowdown, the number of VAT payers continues to steadily increase in key sectors.

The highest growth this year was seen in the following sectors:

• Transportation – 13.5%
• Services – 10.2%
• Information technology and communication – 8.1%

Nevertheless, these sectors grew faster last year. For example, the information technology and communication sector showed a growth of 42.6% in 2023.

In Tashkent, the number of VAT payers increased by 8.8%, although this figure was higher in 2023 at 20%. Samarkand region saw a growth of 5.8% compared to 15.9% the previous year.

In addition, a recent tax audit revealed tax base concealment amounting to 5.7 trillion UZS. The audit was conducted in 1,367 companies, representing about 0.25% of all taxpayers.

The majority of concealed taxes — 69% — came from the trade and public catering sectors.