Uzbekistan Gazettes Decree on Tax Measures Under Development Strategy for 2022-26

The Uzbek Official Gazette Jan. 28 published Decree No. UP-60, on tax measures under the development strategy for 2022-26. The decree includes measures: 1) reducing the VAT rate to 12 percent and the income tax rate to 15 percent for the banking, finance, and telecommunication industries, beginning in 2023; 2) establishing a 1 percent property tax rate for specific new business entities, applicable Jan. 1, 2025; and 3) providing an exemption of up to 3 million Uzbek soms (US$277) per month for parents with children attending non-state educational organizations, effective April 1. The decree takes effect Jan. 29. [Uzbekistan, Official ...