In 2022, a new edition of the Tax Code was introduced in the Republic of Tajikistan; changes are primarily aimed at supporting business. The task of assessing the effects of tax benefits for VAT and corporate income tax as the most significant taxes in fiscal terms seems relevant. VAT is considered the most complex in this context due to its indirect nature and high social component in relation to the economy of the Republic of Tajikistan. The authors have developed a number of indicators showing the effects of tax benefits for VAT and corporate income tax from the state’s position; Some indicators were proposed in the literature for the first time. The methodology developed by the authors implies further empirical research over a time interval of 2–5 years from the introduction of the new edition of the Tax Code of the Republic of Tajikistan and can be used to analyze tax incentives in other developing countries.