Uzbekistan Proposes 5% Tax on Bank Deposit Interest
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Insights by Echo AI
An institute under the Ministry of Economy and Finance in Uzbekistan has proposed to tax the interest income from bank deposits of individuals at a rate of 5%. This proposal, previously discussed in the 'Fiscal Policy' program, aims to generate approximately 1.4 trillion soms annually for the budget. Currently, interest earned on such deposits is fully exempt from tax, a privilege that has been in place since 1998.
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