New rate of income tax was set in line with resolution of the President of Uzbekistan Islam Karimov “On forecast of main macroeconomic figures and parameters of State Budget of Uzbekistan for 2014”.

According to the document, the minimum rate of income tax for individuals was cut by 0.5 percentage point to 7.5%. The Government also increased a rate of mandatory insurance fee of citizens to off-budget Pension Fund under the Ministry of Finance of Uzbekistan by 0.5 percentage point to 6.5%.

At the same time, the Government of Uzbekistan kept the maximum and average rate of income tax for individuals at the level of 16% and 22% respectively.