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

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.