The ministry attributed the upward revision to improvements in tax administration and higher-than-expected global prices for precious metals, particularly gold.
Compared with the expected execution of the 2025 budget, when revenues are estimated at UZS 359.8 trillion, state budget revenues are projected to increase by nearly UZS 80 trillion, or 22.2%.
Direct taxes are expected to record the strongest growth, reaching UZS 149.6 trillion, up 27% from 2025. Indirect taxes are projected at UZS 131.6 trillion, an increase of 20.1%, while resource and property taxes are forecast to total UZS 54.5 trillion, up 21.4%. Other revenues are expected to rise to UZS 104 trillion, representing annual growth of 19.1%.
Corporate income tax is forecast to generate UZS 96.5 trillion, up 33.5% from the previous year, while personal income tax revenues are expected to reach UZS 49.8 trillion, an increase of 17.5%. Turnover tax receipts are projected at UZS 3.2 trillion, up 3.2%.
Among indirect taxes, value-added tax is expected to bring in UZS 93 trillion, up 22.4%, followed by excise tax at UZS 24.5 trillion, an increase of 11.9%, and customs duties at UZS 14.1 trillion, up 20.5%.
Revenue from resource and property taxes is projected to be led by the subsoil use tax at UZS 31.5 trillion, up 22.1%. Land tax receipts are expected to increase by 25% to UZS 12.5 trillion, while property tax collections are forecast at UZS 9.2 trillion, up 15%. Revenue from the water use tax is expected to remain unchanged at UZS 1.2 trillion.
For 2027, the ministry forecasts state budget revenues at UZS 422.3 trillion, equivalent to 17.1% of gross domestic product.
Indirect taxes are expected to remain the largest source of budget revenue, contributing UZS 146.8 trillion, or 34.8% of the total, followed by direct taxes at UZS 141.9 trillion, accounting for 33.6%. Resource and property taxes are projected to generate UZS 52.9 trillion, while other and non-tax revenues are expected to amount to UZS 80.7 trillion.
The fiscal strategy also projects continued growth in budget revenues over the medium term. Collections are forecast to reach UZS 483.1 trillion in 2028 and UZS 554.1 trillion in 2029, reflecting expected economic expansion and planned changes to tax and customs policy.
