The President's decision "On measures to create additional convenience for the population in the use of mortgage credit" exempts subsidy receivers who have mortgage loans from income tax.
Starting from January 1, 2023, the wages and other income of citizens who received subsidies to cover part of the initial contribution and interest on mortgage loans and the interest calculated on them will not be deducted from the Individual Income Tax (IIT). This benefit is applied to the part of the borrower's income that does not exceed 73.6 million soums in one tax period.
Starting from 2023, the above income will be taxed when the property purchased, built and reconstructed at the expense of a mortgage loan is alienated within three years from the date of the state right registration.
From November 1, 2022, to allocate mortgage loans for the purchase of apartments (divided into rooms and ready for finishing works) in the primary market in houses built without the condition of ready handover and reimbursement of a part of the initial payment and interest on the mortgage loan is allowed to pay using subsidy.
In 2021, based on the new procedure, the validity period of the notices on the allocation of subsidies issued within the target parameters of the allocation of mortgage loans will be extended until December 31, 2022.
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