Khorezm deputies support the procedure to deduct part of entrepreneurs’ accounting expenses from taxes

The public hearing held at the Khorezm Regional Council of People’s Deputies, with participation by the UzLiDeP deputy group, discussed innovations in tax policy and the opportunities being created for entrepreneurs in detail.

The event provided information on the work being carried out by the regional tax department, achievements in the sector, existing problems, and their solutions. The main focus was on reforms within the framework of the 2026 tax policy concept. The discussions raised issues related to benefits for business entities, measures to reduce the shadow economy, and the simplification of tax administration. In particular, benefits such as exempting entrepreneurs transitioning from turnover tax to the VAT and profit tax system from profit tax for one year, not applying penalties during the initial period, and deducting part of accounting expenses from taxes were noted as important steps.

Proposals were also put forward to reduce excessive paperwork by introducing a system to digitize and automatically generate tax reports, to support small businesses and self-employed individuals, and to strengthen outreach in remote areas. The deputies emphasized that tax reforms would be an important factor in improving the business environment, increasing investment attractiveness, and raising the population’s income.