As previously reported by Spot, Shavkat Mirziyoyev signed a decree to ensure a "fair competitive environment" for businesses. The document outlines measures discussed at a meeting with entrepreneurs on December 20.

According to the decree, from January 1, 2025, to January 1, 2028, the income tax and profit tax rates for manufacturers of clothing, footwear, and leather goods will be reduced to 1%. This benefit is applicable if each of the following conditions is met:

  • at least 15% of employees are from needy families or registered in social protection;
  • the salary of each employee is no less than 2 minimum wages (2.3 million sums);
  • the total revenue from the sale of clothing, footwear, or leather products constitutes at least 90% of income.

From April 1, all legal entities engaged in the sale of pharmaceutical products or providing medical services will pay VAT regardless of their income.

VAT reports will be generated automatically by tax authorities. This will utilize information from online cash register receipts, virtual cash registers, electronic invoices, and other data.

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A Business Support Center for accessing external financial markets will be established at the Chamber of Commerce and Industry. It will provide advice to entrepreneurs on attracting funds from foreign banks, international financial institutions, etc. It is expected that the center will serve at least 100 companies annually.

The trade development company will receive a loan of $100 million from the Reconstruction and Development Fund. The funds will be allocated for 5 years at an interest rate of 2% per annum, with repayment starting from 2028.

With these funds, the KRT will allocate resources to banks for providing loans to the agribusiness, industrial, and trade enterprises for replenishing working capital. Additionally, they will provide loans for calibration and packaging projects of agricultural products.

The KRT will also provide guarantees for loans up to 10 billion sums. To meet related obligations, $50 million will be reserved from the company's funds.

An export duty of 2% of the export price (not exceeding 5 cents per kilogram) will be introduced on cotton yarn. A fee of 1% will also be charged for the export of knitted fabric.

Earlier, Spot reported on tax benefits for property and land for using "green" energy.