Senators of the Oliy Majlis have approved the law on tax and budget policy for 2026. According to the law, the value-added tax (VAT) will remain at 12%.
Additionally, the profit tax is set at 15%, while the income tax will remain at 12%. Property tax for legal entities will be 1.5%, land tax for agricultural lands is set at 0.95%, the social tax remains at 12% (25% for budget organizations), and the turnover tax is maintained at 4%.
The law focuses on measures aimed at further supporting entrepreneurs, including furniture manufacturers and representatives of the jewelry industry, increasing export volumes, and raising household incomes. It also includes plans to reduce penalties related to delays in tax reporting for small businesses and microfirms.
If a company has submitted accurate reports over the last three months, no penalty will be imposed for delays of up to five working days. In cases where several reports are delayed within a month, only a single penalty will be applied.
The adopted document also provides for tax and customs privileges for agriculture, light industry, food, and local manufacturing sectors. Additionally, local Councils will be granted the authority to apply decreasing or increasing coefficients for land tax on agricultural lands.
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