A separate tax system will be introduced for wealthy citizens in Uzbekistan

A new taxation system is being developed for individuals with the highest income in Uzbekistan. This was announced by Mubin Mirzayev, the first deputy chairman of the Tax Committee, at a press conference held on April 1 at the Information and Mass Communications Agency.

Population with income and the new system

Currently, the population of the country is nearly 38 million people. Of these, more than 18 million citizens have income and are registered as taxpayers. The new system aims to introduce a special tax payment and collection procedure for the highest-income individuals by segmenting this category of the population.

Mubin Mirzayev emphasized that a complete database of wealthy citizens will be formed, which will prevent tax evasion. This system eliminates the possibility of individuals artificially reducing or hiding their income.

Electronic system and foreign income

The Tax Committee requires approximately one year to fully develop the new tax system. This system will include taxation not only on income earned in Uzbekistan but also on funds obtained abroad.

Additionally, if a resident of Uzbekistan earns income abroad, they will be required to pay taxes in the country. In cases related to non-residents, the Tax Committee will take into account the taxes paid in foreign countries to prevent double taxation.

Expected results from the new system

It is expected that the new tax system will attract additional funds to the state budget and increase transparency in the economy. At the same time, the potential imposition of additional obligations on high-income individuals may lead to heated discussions on social networks and among the public.

The effectiveness of the tax reforms will become clear after they are implemented. For now, the government is working on thoroughly preparing this new system and ensuring its effectiveness.