A new approach to assessing tax incentives: nominal indicators and real fiscal impact

In 2025, the total volume of tax and customs benefits amounted to 178.2 trillion soums. However, how accurate is it to assess these figures as direct losses of the state budget?

This analytical article analyzes the economic essence of tax incentives, why the majority of VAT incentives are considered the basic architecture of the tax system, as well as the approaches used in international practice when assessing incentives. The author justifies the need to evaluate the actual effectiveness of tax incentives through their impact on investment, exports, employment, and economic activity.

Learn more