Buyers of assets on the balance sheets of state-owned and mixed-ownership banks in Uzbekistan will receive property and land tax relief for 12 months from full payment until January 1, 2030.
The tax exemption was introduced by an August 28 decree from President Shavkat Mirziyoyev on reducing state involvement in the economy and accelerating privatization. It applies to assets transferred to banks to settle debts, as well as assets held by investment companies with a state share exceeding 50%. The decree also accelerates auctions: the timeframe has been cut from 30 days to 15, and repeat auctions will be held after 5 days instead of 10. If an asset remains unsold for three months, its starting price will be reduced in 10% steps down to a minimum of 10% of its initial value.