President Shavkat Mirziyoyev of Uzbekistan continues to prioritize entrepreneurship and the creation of favorable conditions for business. The authorities view business as a key driver of the economy, and new initiatives are being implemented under the principle: 'If the entrepreneur is rich, the state is rich.'

At the initiative of the head of the Presidential Administration, Saida Mirziyoyeva, and with the support of the head of state, a number of new relaxations for entrepreneurs have been prepared. One of the main innovations could be raising the threshold for applying the simplified tax regime for small businesses from 1 billion to 5 billion som. The changes are expected to take effect on June 1, 2026.

This is expected to allow entrepreneurs to avoid premature transition to VAT and income tax payments, and create additional conditions for expanding their activities. Additionally, the proposals include introducing a simplified VAT payment procedure at a 6% rate for trade, services, and catering; automating VAT refunds for low-risk entrepreneurs; abolishing the practice of temporarily suspending VAT payer certificates; introducing restrictions on tax audits and on-site inspections; and digitalizing the process of opening bank accounts and other procedures.

According to government calculations, the proposed measures could create conditions for the legal growth of over 600,000 small business entities, reduce incentives to conceal turnover, and help bring businesses out of the shadows.

Source: uznews.uz