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Uzbekistan can offer tax benefits to philanthropists

Business Materials 27 February 2018 16:22 (UTC +04:00)

Baku, Azerbaijan, Feb.27

By Nigar Guliyeva – Trend:

Uzbekistan is developing a mechanism for applying tax incentives for philanthropists, Uzbek media reported.

The Foundation for the Culture and Arts Development under the Uzbek Culture Ministry is developing a number of proposals for amending the current legislation.

Fund's Deputy Executive Director Gayane Umerova said that this initiative is being implemented within the framework of the Program for the Development of Cultural Patronage, launched several months ago in the republic.

"This program is aimed at wider development of the charity sphere in Uzbekistan. It studies the state of global philanthropy, fixes the main trends and identifies the existing key problems," Umerova noted.

She noted that philanthropists are not only people with high incomes or big business.

"It can be either an average or small business, and just people who work in different spheres. We try to convey to them that they are actually recipients of culture, and our joint interests are realized only thanks to this dialogue," the deputy head of the fund said.

The main objective of the Program for the Development of Cultural Patronage is to stimulate the participation of citizens in attracting additional financial resources for the activities of cultural institutions.

The Foundation for the Culture and Arts Development was established in November 2017. Its tasks include state support and further development of the national culture and art in the country, as well as the expansion of international and interstate cultural ties.

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