Presidential meeting: tax revenue tops 130 trillion soums, but loss-making companies and those only claiming input VAT are in focus
At a meeting on 21 July 2026 it was noted that tax revenue had grown by 27% since the start of the year to more than 130 trillion soums, while the annual plan for additional revenue was only 40% fulfilled. Using Bukhara region as an example, 162 companies with losses for three years in a row and 1,500 companies that only claimed input VAT were criticized.
At a meeting chaired by the President on 21 July 2026, it was pointed out that the available opportunities for tax revenue are not being fully used.
Figures cited at the meeting
| Indicator | Value |
|---|---|
| Tax revenue since the start of the year | up 27%, more than 130 trillion soums |
| Annual plan for additional revenue | only 40% fulfilled (12 trillion soums) |
| Bukhara region: companies with turnover above 100 million soums that ended three years in a row with a loss | 162 (paid not a single soum of corporate profit tax) |
| Bukhara region: companies that did not pay VAT but only claimed input VAT | 1,500 |
The first deputy regional governors (hokims) were criticized for not working enough with companies on tax revenue, and the first deputy governor of Bukhara region was dismissed. It was also noted that from 1 July the authority to collect taxes from 498 large taxpayers was delegated to the regions. The first deputy regional governors and the heads of regional tax authorities were instructed to work closely with these companies and ensure taxes are collected in full.
Takeaway for accountants
Two situations were singled out at the meeting. They can be seen as signs that attract the attention of tax authorities, so it is worth checking your own company against these two questions (tips compiled by the author):
- Has the company reported a loss for several years in a row? The reason for the loss (new construction, a large investment, falling prices, seasonality) should be supported by documents. Expenses should be backed by contracts, acceptance certificates and invoices.
- Is output VAT always lower than input VAT claimed? If this goes on for a long time, analyze why: inventory is building up, investment is under way, or the selling price is below cost. Check that purchased goods were actually received and that e-invoices are correct.
Example (compiled by the author, hypothetical situation). "Zarafshon qurilish" LLC reported a loss for two years because it was building a new workshop. Each year the accountant wrote a short explanatory note on the reason for the loss and kept the construction contracts and acceptance certificates in a separate folder. If the tax authority asks, the answer is ready.
Official source
- Spot.uz: Plan to increase tax revenue only 40% fulfilled (21.07.2026, in Uzbek)
- Yuz.uz: In Bukhara region 1,500 companies did not pay VAT but only claimed input VAT (in Uzbek)
For information only; check the official text at the source.