Dividends on shares are exempt from income tax in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) -- The presidential resolution established that from 1 April 2022 to 31 December 2024, income accrued in the form of dividends on shares of individuals - residents and non-residents of the Republic of Uzbekistan are exempt from income tax.

In addition, income accrued in the form of dividends on shares of legal entities - non-residents of the Republic of Uzbekistan, is subject to a 5 percent income tax rate by analogy with legal entities - residents of the Republic of Uzbekistan. 

Income in the form of accrued interest on bonds of business entities of individuals and legal entities - residents and non-residents of the Republic of Uzbekistan is exempt from personal income tax and corporate income tax.

From 1 July 2022, a procedure is established according to which, when making transactions with securities at organized over-the-counter trading in securities, the seller (excluding the issuer) pays a fee in the amount of 0.3 percent of the transaction amount instead of income tax and income tax. 

When the general meeting of shareholders makes a decision to exclude the company's shares from the exchange quotation list of the stock exchange, the shareholders - owners of the voting shares of this company are given the right to demand that the company buy back their shares.

From 1 April 2022, local issuers are granted the right, on the recommendation of the underwriter, to place their shares on foreign stock markets after a preliminary placement on the Uzbekistan Stock Exchange or to place simultaneously in local and foreign stock markets.