Uzbekistan to reduce income tax rate for foreign citizens to 12pct

The income tax rate for foreign nationals will be reduced. The relevant presidential decree was adopted, Trend reports citing Kun.uz.

According to the decree, from May 1, 2022, the income tax on income of nonresidents from sources in Uzbekistan will be set at 12% (previously up to 20%).

Also, from July 1, 2022, exemptions from customs duties will be granted only by law. In addition, the amount of real estate required to obtain a residence permit in Uzbekistan on the condition of purchase of real estate by foreign citizens has been reduced from $400,000 to the equivalent of $300,000 in Tashkent region and Tashkent city.