Regulatory Alerts2019-05-13 | ПФ-5715Added
On Additional Measures for the Development and Expansion of the Mortgage Lending Market
The President of Uzbekistan establishes a Mortgage Refinancing Company with an initial capital of 25 billion sums to refinance mortgage loans and attract international funding. The decree introduces new mortgage lending conditions, including a one-year grace period, an annuity payment formula, and an interest rate scaling from 7% to the Central Bank refinancing rate. It mandates the abolition of VAT and other tax exemptions for construction-related entities starting January 1, 2020, while authorizing income tax exemptions for mortgage repayments up to 15 million sums for properties valued at 300 million sums or less.
More like this from CBU
We email you every new CBU publication the day it's published.
Topics
Share