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Finance 01/01/2015 President: Reduction of social payment rate to help small businesses to save 440bn soums
President: Reduction of social payment rate to help small businesses to save 440bn soums
Tashkent, Uzbekistan (UzDaily.com) -- A rate of single social payment will be decreased by 10 percentage point to small businesses and farms, President of Uzbekistan Islam Karimov said in his New Year greeting to the people of the country.

He said that the rate of single social payment for enterprises of small businesses and farms will be decreased from 25% to 15%. So, they will keep over 440 billion soums, he added.

From 1 January 2014, income of individuals at the size of one size of minimal salary will not be taxed, Islam Karimov said. He noted that this novelty will be applied to all employed people and will impact citizens with low income.

Uzbek President stated that due to this measures, employees will additionally receive at least 120 billion soums. He said that list of such preferences, which will be provided to population in New Year, can be continued further.

President Islam Karimov stated that the growth of inflation, in other words, prices is expected between 5.5-6.5%.

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