Regulatory Alerts2024-06-13 | 331-сонAdded
Resolution of the Cabinet of Ministers of the Republic of Uzbekistan on Approving the Regulation on the Procedure for Opening a Personal Investment Account and Accounting for Funds Therein
The Cabinet of Ministers of Uzbekistan approves a regulation establishing the procedure for opening, operating, and closing personal investment accounts (PIAs) for individuals who are tax residents of Uzbekistan. The rule limits total annual contributions to 100 times the minimum wage and monthly contributions to 20 times the minimum wage, with excess funds returned within five business days. Funds remain tax-exempt from individual income tax if held for at least twelve months; early withdrawal triggers tax withholding, while transfers to a new PIA within that period are exempt from tax obligations.
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