Uzbekistan Tax Agency Clarifies Various Tax Amendments

The Uzbek State Tax Committee March 31 clarified various tax amendments, effective April 1, 2022, through Dec. 31, 2024. The clarification includes: 1) a dividend income tax exemption for individual taxpayers, including nonresidents; 2) a 5 percent corporate income tax rate applied to dividends from nonresident legal entities; and 3) a VAT and income tax exemption of corporate bond income for resident and nonresident individuals and legal entities. The clarification also includes a 1 percent turnover tax and social tax rate, effective from April 1, 2022, through Jan. 1, 2025, for various business entities, and the cancellation of specific VAT ...