February 20, 2024

Micro firms and small enterprises are provided with benefits on personal income tax and social tax

On 09.01.2024, the Resolution of the President of the Republic of Uzbekistan “On the program for creating new jobs and promoting employment for 2024” No. PP-7 was adopted.

In accordance with the Resolution, from January 1, 2024, to January 1, 2025, employers from the republican budget will be refunded 50% of the amounts of personal income tax paid on wages for each new workplace created by micro firms and small enterprises, in an amount not exceeding 2 amounts of Basic Calculated Values (680 000 soums) for each employee.

The social tax for these employers will be reduced by 50%.

Mandatory conditions for the application of tax benefits:

– employment of citizens included in the “Unified Register of Social Protection”;

– accrual of monthly wages to the above-mentioned citizens in the amount of at least the minimum wage (1 050 000 soums).