Amendments aimed at supporting entrepreneurs are being introduced to the Tax Code

The law "On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan" was reviewed by senators. This law introduces amendments to the Tax Code aimed at developing the poultry industry, further supporting the activities of children's health improvement camps, and improving the digital labeling system.

According to the additions being made to the Tax Code, until January 1, 2027, entrepreneurs engaged in the retail sale of digitally labeled products will be granted the right to reduce the amounts of calculated and payable profit tax or turnover tax, or the income tax paid by individual entrepreneurs, by the amount of expenses related to the purchase of labeling reading devices, but not exceeding four times the basic calculation amount for one device.

In order to support enterprises in the poultry sector and children's health improvement camps, the law exempts entrepreneurs producing poultry products from paying land tax on land plots other than crop fields until January 1, 2030. It is specified that the tax exemption will apply to land plots that are not directly used for the designated purpose and are used for the realization of poultry products.

It is noted that there are a total of 1,218 poultry enterprises in the republic, with land area outside of crop fields amounting to 12,700 hectares. The land tax rates for non-agricultural lands are set between 27 million soums and 44 million soums, depending on the location of the land area.

Additionally, the law also provides for the exemption from profit tax on the income derived from leasing the buildings and land plots of stationary children's health improvement camps within the system of the Federation of Trade Unions of Uzbekistan until January 1, 2027, as well as from property tax on leased objects and land tax on legal entities. As a result, an average annual tax benefit of 17 billion soums will be provided for 51 children's health improvement camps.

The law was approved by the senators.