News about taxes: events, facts and developments on tafs uz.
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After an inconclusive European Council summit, its President António Costa is seeking new EU revenue sources for the next long-term budget: taxes on large companies, digital services, tobacco, emissions and gambling. Negotiations are entering a critical phase, with a number of proposals facing resistance from individual countries.
Sevara AzamovaShavkat Mirziyoyev signed a law on October 20 reducing the regulatory burden on entrepreneurs in the sphere of tax disputes. Amendments to the Tax Code and the Economic Procedure Code allow challenging the suspension of account transactions in an economic court and provide for the prompt cancellation of such decisions after a number of violations are resolved.
Sevara AzamovaBy Cabinet of Ministers Resolution No. 574 of October 19, 2026, a temporary procedure for filing declarations of total annual income was approved. The experiment will cover tax authority employees and residents of Navoi and Chirchik over 18 years of age. Declarations for 2026–2027 are submitted via the electronic tax services portal and the Soliq app by April 1 of the year following the reporting year.
Javlon TursunovChancellor John Healey, according to The Times, does not intend to raise capital gains tax (CGT) in the 28 October budget, fearing an outflow of investors and lost revenue. Earlier, Wes Streeting and Louise Haigh had backed a rise. The opposition and Liberal Democrats offered alternatives: spending cuts or a bank profits tax.
Nilufar KarimovaRepresentatives of the Appraisers Society of Uzbekistan Zebuniso Isanova and Shukhrat Abduvakhobov raised objections to the draft law on mass real estate valuation. In their view, the result of a mass valuation cannot be automatically applied to transactions, collateral and compensation upon expropriation: an undervalued figure is beneficial for tax purposes but may deprive the owner of part of the compensation, while an overvalued one may harm the payer. The experts proposed limiting mass valuation to tax purposes and enshrining the owner's right to an independent report.
Dilnoza RahimovaKun.uz explained the taxation procedure when individuals sell land plots in Uzbekistan. The tax is paid by the seller; income is defined as the excess of the sale price over the purchase price (or over the cadastral value if documents are absent). No tax or declaration is required if the plot has been owned for more than 36 months.
Nilufar KarimovaBritish newspapers on 16 October 2026 discuss a possible bank tax rise in the budget, a 'double' rise in energy bills, Lucy Powell's school reforms, salmon farmers switching to chicken feed and the first joint public appearance of the Duke and Duchess of Sussex in the UK.
Aziz KarimovPresident Shavkat Mirziyoyev reviewed a presentation on introducing 'green' technologies in greenhouse farming. It is proposed that by 2030 land and property taxes for household greenhouses be reduced by 50%, they be exempt from turnover tax, half of electricity costs be compensated, and grants and preferential loans be allocated for modernization.
Nilufar KarimovaAccording to the BBC, Chancellor John Healey is considering raising taxes on the banking sector ahead of the budget. Options under discussion include restoring the corporation tax surcharge from 3% to 8%, raising the bank levy, or a moratorium on loss relief. The four biggest banks earned about £15bn in six months; the industry warns of a threat to competitiveness.
Dilnoza RahimovaPortugal's draft state budget for 2027 (OE2027) provides for updated income tax brackets, a rise in the minimum wage to 970 euros, pension indexation of about 3%, increased social benefits and housing measures. At the same time, from the 2027/2028 academic year tuition fees at public universities are set to be unfrozen. The draft still needs to pass parliamentary approval and receive the president's signature.
Dilnoza Rahimova
