It is planned to introduce cashback when purchasing housing in Uzbekistan. This was reported by Upl.uz.
This was announced by the Chairman of the Chamber of Commerce and Industry, Davron Vahabov, during an open dialogue with representatives of the construction sector. According to him, currently about 90 percent of transactions in the housing market are carried out without paying taxes.
The aim of introducing the cashback system is to encourage citizens to formalize purchases and request invoices. This will help make the real estate market more transparent.
Buyers may receive cashback of up to 4-6 percent of the price of a house or apartment. For example, when purchasing an apartment worth 50 thousand dollars, the buyer can receive cashback ranging from 2 to 3 thousand dollars.
This mechanism will be an important step in legalizing the market and increasing tax revenues.
