Corporate rates range from 10–60%, with a standard rate of 18%. Also levied is a 25% value-added tax. In a law adopted n late 2001, the maximum rate on personal income taxes was reduced from 50% to 33%. The official minimum monthly wage rate in Uzbekistan is 3,430 soms, which is worth about $2 in the black market. People who earn less than 15,720 soms (about $9) a month pay 13%. On the increment between 15,720 soms and 31,140 soms ($18) per month the rate is 23%, and on income above 31,140, the new maximum rate is 33%. At the same time the government introduced a 20-som tax on each liter of gas.