Uzbekistan increases revenues of its state budget

Finance Materials 10 August 2020 13:48 (UTC +04:00)
Uzbekistan increases revenues of its state budget

BAKU, Azerbaijan, Aug. 10

By Ilkin Seyfaddini - Trend:

Revenues of the state budget of Uzbekistan in the first half of 2020 amounted to 58.2 trillion soum ($5.6 billion), which is 7.5 trillion soum ($732.7 million) more than during the same period in 2019, Trend reports citing the Ministry of Finance of Uzbekistan.

As of July 1, 2020, tax revenues totaled 45.9 trillion soum ($4.4 billion), which is 6.8 trillion soum ($664.3 million) or 17.2 percent more than in the same period of 2019.

The bulk of budget revenues is provided by tax and customs revenues. At the same time, the share of non-tax sources is increasing, primarily due to the growth of dividend receipts (part of profits) on the state share, the ministry said.

The bulk of state budget revenues is formed at the expense of VAT - 14.3 trillion soum ($1.3 billion, 24.6 percent of total revenues), income tax - 11.8 trillion soum ($1.1 billion, 20.3 percent).

Income tax from natural persons made 7.3 trillion soum ($713.2 million, 12.5 percent), subsoil use tax - 7.6 trillion soum ($742.5 million, 13 percent) and excise tax - 5.8 trillion soum ($566.6 million, 10 percent).


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