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

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.