Tashkent, Uzbekistan, Jan. 22
By Mamed Dashdemirov – Trend:
A part of the income of individuals, sent for the purchase of securities, will be exempted from the payment of personal income tax from May 1, 2018, the Center for Coordination and Development of the Securities Market of Uzbekistan told Trend Jan. 22.
Currently, the Center jointly with the State Committee for Assistance to Privatized Enterprises, Ministries of Finance and Economy is developing a relevant regulatory and legal document.
The average tax rate on personal income has been reduced from 17 percent to 16.5 percent, the maximum – from 23 percent to 22.5 percent since early 2018.
According to the state budget parameters for 2018, taxes on personal income are expected to total 5.2 trillion soums this year, which will account for 40.6 percent of direct taxes, or 8.3 percent of the total volume of state revenues.
Total income of individuals amounted to 186.2 trillion soums in Uzbekistan in 2017, which is 10.3 percent more than in 2016.
As of January 1, 2018, there were 4.5 trillion shares of 606 issuers with a total nominal value of 48.6 trillion soums and 550,000 corporate bonds of 10 issuers worth 201.7 billion soums at the Central Depository of Uzbekistan.
(1 USD = 8,146.38 UZS on Jan. 22)