On 1 January, the amendments to the Tax Code signed by the President of Uzbekistan came into force.
The most recent revision of tax legislation is another step towards the development of the securities market of Uzbekistan.
The main legal provisions were amended as follows:
- the costs on services of the central depositary and professional participants of the securities market can be related to deductible costs;
- the income of non-residents on sales of equities via the stock exchange is not subject to tax relief at source;
- the income of a legal entity, including non-resident and individual persons, received from issued securities sales on stock exchange, is not subject to income tax, taking into account that in accordance with the law on the securities market, the seller paid a duty to the government budget which amounted to 0.01% on sales price.