Uzbekistan to cut social tax to 25% in 2006

Interfax December 7 Amendments to the tax code proposed by the Uzbek Senate provide for a reduction in the social tax from 31% to 24%, Deputy Chief of the State Tax Inspectorate Erkin Gadoyev told reporters on Monday. "This is yet another incentive for economic advancement," he said. "The changes are another step in reforming the economy. The bill will promote further economic liberalization, deepen market- oriented reforms and guarantee stable social and economic growth," he said. The bill cancels environmental tax and license fees for trading in certain commodities. Both the maximum and mean rates of income tax are also to be lowered in order to reduce the tax burden on the remuneration fund.