Uzbekistan's VAT payer growth rate dropped by half in 2024

SOCIETY 13:48 104

The State Tax Committee published a review of VAT payers registered for special tax accounting in Uzbekistan for 2024.

As of January 1, 2025, the number of VAT payers exceeded 201,000, representing a 5.7% increase compared to 2023, when slightly more than 190,000 companies were registered.

The overall growth rate was more than twice as low as the 12.3% increase seen in the first 11 months of 2023. However, the number of VAT payers continues to rise significantly in certain sectors of the economy.

The highest growth in the past year was observed in:

  • Information technology and communications: +15.2% (3,495 entities);
  • Transportation: +13.4% (8,067 entities);
  • Service provision: +10.9% (21,374 entities).

Nevertheless, during January–November 2023, these same sectors grew at a much faster pace. For instance, growth in the IT and communications sector was 36.2%, while transportation saw a 32.9% increase during that period.

The largest number of VAT payers is registered in the following sectors:

  • Trade: 67,100 entities;
  • Agriculture: 46,400 entities;
  • Industry: 26,800 entities.

Regionally, Tashkent experienced the highest growth in the number of companies transitioning to VAT, with a 9.8% increase. It was followed by Tashkent Region, which saw a 9.7% increase. Meanwhile, in Karakalpakstan, Jizzakh, and Kashkadarya regions, the number of VAT payers grew by less than 2%.

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