Cashback will be introduced for home purchases in Uzbekistan

The issue of introducing a cashback system for home buyers in Uzbekistan is currently under discussion. This was reported by Zamin.uz.

Information about this was provided during an open dialogue held on August 29 with the participation of representatives from the Chamber of Commerce and Industry and the construction sector. According to Davron Vahobov, chairman of the Chamber of Commerce and Industry, currently only about 10 percent of housing transactions are officially registered with value-added tax, while the rest are not taxed.

This increases the share of the shadow economy in the construction sector. According to Vahobov, the problem can be resolved by providing cashback to individuals based on the transaction amount according to the established procedure.

He proposed introducing cashback of 4-5 percent for individuals. In this way, buyers will be able to request an invoice from the builder and receive cashback of up to 5-6 percent of the transaction amount.

This step will help increase transparency in the housing market and encourage tax payments. Currently, this proposal is being thoroughly studied and the practical effectiveness of the system is being evaluated.

Experts emphasize that introducing the cashback system will play an important role in strengthening legality in the housing market (source: zamin.uz).