LETTER OF THE STATE TAX COMMITTEE OF THE REPUBLIC OF UZBEKISTAN

of January 5, 2008 No. 16/1-166

About changes of rates of taxes and other obligatory payments, and also on single questions of the taxation in 2008

The State Tax Committee of the Republic of Uzbekistan reports about the main changes of rates of taxes and other obligatory payments, and also on single questions of the taxation in 2008 according to the resolution of the President of the Republic of Uzbekistan of December 12, 2007 NPP-744 "About the Forecast of the Main Macroeconomic Indicators and Parameters of the Government Budget of the Republic of Uzbekistan for 2008".

I. On the income tax of legal entities

1. The rate of the income tax of legal entities is kept at the level of 2007 in the amount of 10 percent.

For commercial banks the rate of tax is established in the amount of 15 percent against the rate operating in 2007 in the amount of 17 percent.

For the companies of service industry for amount of the rendered services paid using plastic cards decrease in rate by 10 percent from the established rate is kept.

2. For the export companies for the income tax the descending scale of the taxation operating in 2007 depending on commodity export share (works, services, irrespective of the place of their accomplishment, rendering) own production for freely convertible currency in total amount of realization is kept. In case of export share:

- from 15 to 30 percent in total amount of realization - the established rate decrease by 30 percent;

- from 30 and more percent in total amount the realizatsiiustanovlenny rate decreases by 50 percent.

3. For the legal entities gaining income from holding auctions, the organizations of mass spectacular actions by involvement of the legal entities and physical persons (including nonresidents) having the license for occupation tour and concert activities, the rate of the income tax is established in the amount of 35 percent from taxable basis.

4. The tax on the income paid in the form of dividends and percent to residents of the Republic of Uzbekistan is kept in the amount of 10 percent.

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