Half of VAT to be refunded to new home owners from 2024

13:52 30 May 2023 Economy
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Shavkat Mirziyoyev said that his election programme would pay special attention to simplifying the tax system and creating equal opportunities for all entrepreneurs.
In particular, it is strictly guaranteed that rates for business on value added tax (VAT), on income tax, on turnover tax and on property tax will not be raised in the coming years.
Also, starting from 2024, half of the value added tax will be refunded to new home owners. As a result, the purchase of housing will be cheaper for the population and construction calculations will be transparent.
-  Farmers who sell agricultural products will be refunded 50% of the VAT;
Social protection is also strengthened through tax policy. In this regard, a social tax refund has been introduced for entrepreneurs who employ young people. From now on, employee income tax will be reimbursed to businesses employing residents on the social register.



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