FORMATION AND HISTORICAL STAGES OF THE PROFIT TAX SYSTEM IN UZBEKISTAN

Yunusov Jasur Nuritdinovich1*, Raximov Matnazar Yusupovich2
1 Independent researcher of Tashkent State University of Economics
ORCID 0009-0003-9031-5822
jasuryunusov@mail.ru
2 Professor of Tashkent State University of Economics
ORCID 0000-0002-8989-2943
raximovmy@mail.ru
JELClassification: H1, H 15
Abstract. This article presents a comprehensive analysis of the formation and development of the corporate profit tax system in Uzbekistan after gaining independence. As a crucial fiscal instrument, the profit tax not only serves as a major source of state budget revenues but also functions as a regulatory mechanism for economic activity. The paper examines key legislative milestones, including various editions of the Tax Code, presidential decrees, and government resolutions adopted from 1991 onward. Particular attention is given to reforms implemented during the major tax overhauls of 1997, 2008, and 2020, highlighting changes in tax rates, the introduction of incentives for enterprises, and the modernization of tax reporting mechanisms. The study utilizes diagrams, official statistics, and tabular data to visualize trends in profit tax rates and their correlation with economic policy goals. In addition to domestic policy documents, the article draws on insights from national and international literature, as well as open data from the State Tax Committee, the Ministry of Finance, and international institutions such as the IMF and OECD. The author concludes that the evolution of Uzbekistan’s profit tax system reflects broader trends in fiscal modernization and market-oriented reforms. The findings contribute to the academic discourse on tax policy development and offer practical recommendations for improving the effectiveness and equity of corporate taxation in transitional economies.
Keywords: profit tax, tax system, historical development, tax reforms, corporate taxation, Uzbekistan economy.