- As part of the new package of stimulating measures recently adopted, tax exemptions for legal entities and individuals when selling vehicles have been provided, said economist Bakhtiyar Igamberdiyev in an interview with state media.
Igamberdiyev noted that reducing the tax burden on vehicle transactions will facilitate faster sales of both new and used cars. Furthermore, the cancellation of taxes on spare parts and vehicles will create incentives for the re-export sector and open new opportunities for promoting domestic production in international markets.
Commenting on the 6% tax rate for renters, the economist emphasized that the introduction of this tax will help legalize part of the income and bring the market out of the shadows. He also noted that although in the past, rising housing prices contributed to construction, a decrease in prices is expected in the coming months due to falling demand.
In Igamberdiyev's opinion, the success of the new package of measures will be determined by the quality of administration and the ability to compensate for short-term fiscal losses by expanding the tax base in the future.
“These measures are aimed at legalizing income and improving institutional conditions, which in turn will enhance investment attractiveness. They also contribute to stimulating domestic demand. As a result, a positive impact on the country's economic development and additional benefits are expected at this time,” concluded the economist.
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