Business Stability Rating in Uzbekistan Supports Entrepreneurial Development
Business
Starting from February 1, 2024, Uzbekistan introduced a "Business Stability Rating" as per the presidential decree. This rating provides new opportunities for businesses and important tax incentives.
The rating results are automatically generated on the Tax Committee's electronic platform and are available in the entrepreneurs' personal accounts. The new rating system strengthens tax control and contributes to reducing the share of the shadow economy.
In the first half of 2024, over 107,000 businesses increased their workforce, while thousands of companies significantly boosted their payroll funds. Additionally, 317 businesses with the highest ratings had their VAT refunds processed within one day.
Moreover, based on the rating results, tax audits have been reduced, and new incentives introduced for businesses. For top-rated businesses, a 7-year installment payment plan has been established.
The new rating system not only enhances the economic stability of companies but also offers financial incentives.
In the first half of 2024, over 107,000 businesses increased their workforce, while thousands of companies significantly boosted their payroll funds. Additionally, 317 businesses with the highest ratings had their VAT refunds processed within one day.
Moreover, based on the rating results, tax audits have been reduced, and new incentives introduced for businesses. For top-rated businesses, a 7-year installment payment plan has been established.
The new rating system not only enhances the economic stability of companies but also offers financial incentives.
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