In 2019, the types of taxes and mandatory payments will be reduced from 19 to 15.

Main directions of the tax policy of 2019 are developed according to the presidential decree “On the Concept of improvement of the tax policy of the Republic of Uzbekistan” on June 29.

In accordance with the resolution, individuals will be introduced a 12% single rate of income tax. 0,1% of that will be directed to personal savings of pension accounts. The rate of income tax for legal entities will be reduced from 14% to 12% and commercial banks from 22% to 20%. The deduction of insurance fees from the wages of citizens as contribution for the off-budget Pension Fund will be abolished.

In general, due to implementation of the proposed measures, taxes and mandatory payment types will be lessened from 19 to 15.

This has been noted in the state budget of 2019, targeted funds of state budget and main directions of tax and fiscal policy.