Major state-owned companies cut tax payments in January

17:46 / 18.02.20251,9044 min

In January, several major state-owned companies in Uzbekistan reduced their tax payments compared to the previous year. Uzbekneftegaz saw a significant decline of 44%, while UzGasTrade experienced a 36.3% drop in tax revenues. Additionally, Almalyk Mining and Metallurgical Complex (AMMC) paid 13% less, and Navoi Mining and Metallurgical Company (NMMC) reduced its tax contributions by 10%.

Major state-owned companies cut tax payments in January

Uzbekistan’s Tax Committee has published a list of the top ten state-owned and private sector companies that paid the most taxes in January 2025.

In the first month of the year, the ten largest state-owned taxpayers collectively paid 4.5 trillion UZS in taxes. This is nearly 120 billion UZS less than in January 2024.

At least six out of the top ten companies paid less tax in January compared to the same period last year.

Specifically, tax revenues from NMMC decreased by 13%, and those from AMMC dropped by 11%.

Among energy companies, Uzbekneftegaz paid 44% less in taxes, while UzGasTrade reduced its tax payments by 36%. Uztransgaz and Hududgaztaminot also cut their tax payments.

At the same time, Navoiyuran paid 2.4 times more in taxes compared to January 2024, while Asia Trans Gas increased its tax payments by 1.7 times.

Leading state-owned taxpayers in January 2025:

• NMMC – 2.08 trillion UZS (2024: 2.38 trillion, -13%)
• AMMC – 639 billion UZS (2024: 707 billion, -10%)
• Uzkimyosanoat – 388 billion UZS
• Navoiyuran – 299 billion UZS (2024: 87 billion, +244%)
• Uzbekneftegaz – 280 billion UZS (2024: 497 billion, -44%)
• Hududgaztaminot – 240 billion UZS (2024: 241 billion, -0.4%)
• UzGasTrade – 218 billion UZS (2024: 343 billion, -36%)
• Asia Trans Gas – 149 billion UZS (2024: 90 billion, +65%)
• Aloqabank – 117 billion UZS*
• Uztransgaz – 111 billion UZS (2024: 118 billion, -6%)

(*This company was not in the top 10 in January 2024)

In January 2024, Uzbektelecom (which paid 105 billion UZS in taxes) and Uzbekistan Railways (74 billion UZS) were in the top 10 but did not make the list in January 2025.

The 10 leading private taxpayers in January 2025:

• Uzbat – 182 billion UZS
• ADM Jizzakh – 62.2 billion UZS