Uzbekistan’s major taxpayers to considerably cut contributions to state budget in 2025

The contribution of Uzbekistan’s major taxpayers to the state budget is expected to undergo notable changes in 2025, with some companies projected to play a reduced role in revenue generation. According to the Ministry of Economy and Finance’s “Budget for Citizens” publication, a detailed forecast for next year outlines adjustments in the shares of key corporations within the state budget.

Compared to 2024 projections, the share of several prominent taxpayers in the state budget is set to decline:

Almalyk Mining and Metallurgical Complex (AMMC): From 5.8% to 5.2%.
Uzbekneftegaz: From 2.5% to 1.5%.
Bukhara Oil Refinery: From 0.4% to 0.2%.
Uz-Kor Gas Chemical: From 0.3% to 0.1%.
Uzbekistan Metallurgical Complex: From 0.3% to 0.1%.
UzBAT: From 1% to 0.9%.

These reductions reflect shifting dynamics in Uzbekistan’s revenue sources and tax policies.

Meanwhile, some corporations are projected to increase their share in the budget:

Navoi Mining and Metallurgical Complex (NMMC): From 12.4% to 17.7%, accounting for the largest single contributor to the state budget.
UzAuto Motors: From 1% to 1.3%.
Hududgazta’minot: From 1.3% to 1.5%.

In 2025, nearly one-quarter of the state budget revenues are anticipated to come from AMMC and NMMC. Together, these mining giants are forecast to contribute 22.9% of the total state budget income, underscoring their critical role in Uzbekistan’s economy.

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