According to the Resolution of the President #PP-90 dated 17 January 2022 (further – “The Resolution”), several tax privileges are provided with the aim of developing capital market and encouraging the investment in securities:
From 1 April 2022 till 31 December 2024.
- income of individuals (residents and non-residents of Uzbekistan) in the form of dividends from stocks (shares) is exempt from personal income tax
- income of legal entities – nonresidents of Uzbekistan in the form of dividends from stocks (shares) of legal entities of Uzbekistan is subject to tax at 5% in Uzbekistan (rather than standard rate of 10%)
- income of individuals and legal entities – residents and nonresidents of Uzbekistan in the form of interest on bonds of entities is exempt from taxation
The Resolution also stipulates that from 1 July 2022 the sellers (except emitter) upon conducting deals with securities within organized over-the-counter trading is required to pay duty 0.3% from the proceeds of deals instead of respective taxes from profit of legal entities / income of individuals.