At the 12th Annual “Downstream Central Asia & Caspian” Business Summit 2025 in Samarkand, experts from Schneider Group discussed how changes in tax policy are influencing the development of the petrochemical industry in the region.

Participants:

• Nilufar Khamidova, Director of Tax Department, Schneider Group, Uzbekistan
• Maria Nazarova, Director of Tax Department, Schneider Group, Kazakhstan

Nilufar Khamidova highlighted that for long-term projects in oil refining and petrochemicals, frequent tax changes create planning difficulties and make investments risky.

She stressed the importance of predictable and stable tax regulations, as well as the need for equal conditions for investors and incentives to encourage raw material processing within the region.

Maria Nazarova noted that Kazakhstan is preparing to implement a new Tax Code, which will simplify administration and reporting, but also includes a VAT increase from 12% to 16% and new excise regulations.

Despite the challenges, both Uzbekistan and Kazakhstan continue to demonstrate steady growth and a focus on transparency, investment openness, and environmental initiatives. The introduction of ESG reporting and tax benefits for green technologies will serve as an additional incentive for businesses.

“The sector itself should voice its need for tax incentives and explain what it can offer in return,” — emphasised Nilufar Khamidova.

Both speakers also praised the summit’s high level of organisation, modern networking approach, and comprehensive programme, which covered topics such as digitalisation, tax reform, and environmental solutions.

Watch the interview: https://youtu.be/wM3gDPaNv8o