Specialists from the Institute of Fiscal Research have proposed introducing a carbon tax for large industrial enterprises in Uzbekistan starting in 2028.

According to the proposal, the tax would be levied on emissions from large industrial enterprises. The tax base would be either the volume of CO₂ emissions or the consumption of hydrocarbon fuels.

In the first phase, it is proposed to cover the largest sources of emissions, with a gradual expansion to other enterprises in subsequent years.

The institute's experts estimate that a carbon tax would internalize the cost of emissions, encouraging companies to improve energy efficiency and reduce their carbon footprint. Additionally, domestic carbon pricing could reduce the risk of Uzbek companies paying carbon levies abroad.

In 2027, an inventory of emissions is proposed, along with defining the tax base, rates, and coverage. The tax itself would be introduced in 2028, with rates gradually increasing in 2029-2030. The fiscal impact is expected from 2028 onwards.

Source: www.uznews.uz