of September 22, 2022 No. PP-377
About measures for creation of additional conveniences to the population when using mortgage loans
For the purpose of support of the population needing improvement of housing conditions, further enhancement and expansion of practice of use of mechanisms of mortgage lending:
1. Establish procedure according to which since January 1, 2023 the salary and other income of citizens by which it is provided the subsidy for compensation of part of the initial contribution and part of percent on mortgage loan directed to repayment of the mortgage loans obtained for acquisition, construction or reconstruction of housing and the percent added on them are not assessed with tax on the income of physical persons.
2. Determine that:
the privilege specified in Item 1 of this resolution extends to the borrower and co-borrowers regarding the income, the minimum payment of work which is not exceeding the eightyfold size during one tax period;
since 2023 in case of property acquisition acquired, constructed or reconstructed at the expense of mortgage loan within thirty six months from the date of state registration of the rights to property the income specified in Item 1 of this resolution is subject to the taxation in accordance with the established procedure.
3. Resolve since November 1, 2022 allocation of mortgage loans on acquisition in the primary market of housing of apartments in the houses built by private contract organizations, without condition of "turnkey" delivery (divided into rooms and prepared for finishing works), and also payment of subsidies for compensation of part of the initial contribution and part of percent on mortgage loan.
4. Extend till December 31, 2022 the validity of notifications on allocation of the subsidies provided within target parameters of allocation of mortgage loans in 2021 according to new procedure.
5. Approve the offer of the Ministry of Finance, Ministry of Economic Development and reducing poverty on allocation of JSC The Company on Refinancing of Mortgage of Uzbekistan (further - the Company) budget advance to 300 billion sum at the expense of the raised funds of international financial institutions for support of the Government budget for a period of 3 years at the rate of 12 percent with payment term of interest payments each 6 months for refinancing of mortgage loans allocated by commercial banks to the population.
At the same time to provide to the Company placement of resources in commercial banks with margin no more than 1 percent.
6. To the chairman of the board of Ministers of the Republic of Karakalpakstan and hokima of areas until the end of the year to take measures on:
to creation of the mortgage centers in the regional centers on the basis of experience of the city of Tashkent for the purpose of creation of additional conveniences to citizens in processes of acquisition of housing and registration of mortgage loans;
to placement in the mortgage centers of sales offices of construction contract organizations (developers) performing housing construction in the region, angle-pieces and cash desks of commercial banks, and also private notary offices.
7. To the Cabinet of Ministers in week time to make the decision providing digitalization of processes of allocation of subsidy to the population for acquisition of housing or construction and reconstruction of individual housing and also simplification of procedure for allocation of mortgage loans.
8. To the Ministry of Finance and the Ministry of Economic Development and reducings poverty together with the interested ministries and departments in two-month time to make in the Cabinet of Ministers offers on the changes and amendments in acts of the legislation following from this resolution.
9. Assign to the Minister of Finance T. A. Ishmetov and the First Deputy Minister of Economic Development and reducing poverty I. I. Norkulov the personal responsibility for the effective organization of execution of this resolution.
Implementation of coordination and control of activities of the departments responsible for execution of this resolution to assign to the deputy prime minister D. A. Kuchkarov.
President of the Republic of Uzbekistan
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