UZBEKISTAN \u00a0\u00b7\u00a0 TAX ADVISORY<\/p>\n
Bond Stone advises international investors and multinational corporations on corporate income tax (CIT) in Uzbekistan \u2014 the standard 15% rate, sector-specific rates, SEZ and IT Tech Park CIT exemptions, and structuring investment activity to optimise the CIT position. The CIT rate is stable until 1 January 2028 under Presidential Decree No. UP-229.<\/p>\n
Primary authority: Tax Code of the Republic of Uzbekistan (as amended, Law No. ZRU-1013 dated 24 December 2024); Presidential Decree No. UP-229 dated 28 December 2024. Verify at lex.uz<\/a><\/p>\n <\/p>\n Uzbekistan \u2014 Tax Context 2026<\/p>\n 15%<\/p>\n CIT standard rate \u2014 stable until 2028<\/p>\n<\/div>\n 12%<\/p>\n VAT standard rate \u2014 stable until 2028<\/p>\n<\/div>\n 10%<\/p>\n WHT on dividends to non-residents<\/p>\n<\/div>\n 55<\/p>\n Double taxation treaties<\/p>\n<\/div>\n<\/div>\n<\/div>\n Standard CIT rate \u2014 15%<\/p>\n The standard corporate income tax rate in Uzbekistan is 15% \u2014 applicable to most Uzbek legal entities and foreign legal entities operating through a permanent establishment in Uzbekistan. CIT is levied on taxable profit \u2014 gross income less deductible expenses as defined by the Tax Code. Presidential Decree No. UP-229 dated 28 December 2024 confirmed that CIT and VAT rates will remain unchanged until 1 January 2028 \u2014 providing investors with meaningful rate stability during the investment horizon.<\/p>\n<\/div>\n Sector-specific CIT rates<\/p>\n The following sector-specific CIT rates apply under the Tax Code: 20% \u2014 commercial banks, producers of cement (clinker) and polyethylene granules, mobile services providers, and operators of markets and shopping malls; 1% \u2014 businesses producing knitwear, footwear, and leather goods (from 1 January 2025 to 1 January 2028, subject to conditions); 50% reduction \u2014 entities in the electrical industry where at least 80% of revenue derives from electrical product sales (until 1 January 2027). Bond Stone verifies the applicable sector rate at the outset of every investment structuring mandate.<\/p>\n<\/div>\n IT Tech Park \u2014 CIT exemption until 2028<\/p>\n Residents of the Uzbekistan IT Tech Park \u2014 established by Presidential Decree No. UP-5099 dated 30 June 2017 \u2014 are entitled to income tax exemption until 2028. From 1 February 2025 to 1 January 2030, foreign non-resident companies providing export IT services to IT Tech Park residents exceeding USD 10 million per year are also exempt from CIT on those IT export service revenues. Bond Stone advises on IT Tech Park residency eligibility and CIT exemption scope.<\/p>\n<\/div>\n SEZ CIT exemptions<\/p>\n Residents of Uzbekistan’s 28 Special Economic Zones are entitled to CIT exemptions for the duration of their SEZ residency under the SEZ operating conditions. The specific CIT exemption period and scope depends on the SEZ, the investor’s qualifying activity, and minimum investment threshold. Bond Stone advises on SEZ-specific CIT exemption terms and on structuring the SEZ investment to maximise the CIT benefit.<\/p>\n<\/div>\n Deductible expenses \u2014 key items<\/p>\n Deductible expenses for CIT purposes include: business expenses incurred in generating taxable income; Note: a 50% CIT rate reduction applies to taxpayers switching to the CIT regime from the simplified turnover tax for the first time after 1 September 2022 (for the tax period of switching, provided turnover does not exceed UZS 10 billion), and to CIT payers whose revenue exceeds UZS 10 billion for the first time (for that period and the following one, provided revenue does not exceed UZS 100 billion) \u2014 depreciation on fixed assets at rates prescribed by the Tax Code; salary costs and social tax; interest on borrowings (subject to transfer pricing limits on related-party debt); and professional fees. Non-deductible items include dividends paid to shareholders, penalties and fines, and expenses without supporting documentation. Bond Stone advises on expense deductibility in the context of intercompany structuring mandates.<\/p>\n<\/div>\n Permanent establishment \u2014 non-residents<\/p>\n Foreign companies conducting business activities in Uzbekistan without a registered entity may create a permanent establishment (PE) \u2014 triggering CIT liability in Uzbekistan on profits attributable to the PE. The PE risk threshold and profit attribution rules follow OECD guidelines as adapted in the Uzbek Tax Code. Bond Stone advises foreign companies on PE risk assessment and on structuring activities to manage PE exposure in Uzbekistan.<\/p>\n<\/div>\n<\/div>\n Bond Stone has provided tax advisory as part of investment structuring mandates in Uzbekistan. Client confidentiality is maintained across all matters.<\/p>\n CIT Structuring \u2014 Manufacturing SEZ<\/p>\n CIT \u00b7 Uzbekistan \u00b7 Manufacturing \u00b7 SEZ<\/p>\n Advising a foreign manufacturer on CIT structuring through an Uzbek SEZ entity \u2014 SEZ CIT exemption scope, qualifying activity compliance, separate accounting requirements, and interaction between the SEZ exemption and the standard 15% CIT regime.<\/p>\n<\/div>\n IT Tech Park \u2014 CIT Exemption<\/p>\n CIT \u00b7 Uzbekistan \u00b7 Technology<\/p>\n Advising an IT company on IT Tech Park residency to access the income tax exemption until 2028 \u2014 eligibility assessment, exempt activity scope, and ongoing compliance with IT Tech Park operating conditions.<\/p>\n<\/div>\n Sector Rate Analysis \u2014 Manufacturing<\/p>\n CIT \u00b7 Uzbekistan \u00b7 Manufacturing<\/p>\n Advising a foreign manufacturer on the applicable CIT rate for its Uzbek entity \u2014 confirming the standard 15% rate applies and identifying any sector-specific rates or incentives available for the specific manufacturing activity.<\/p>\n<\/div>\n PE Risk Assessment \u2014 Services<\/p>\n CIT \u00b7 Uzbekistan \u00b7 Corporate<\/p>\n Advising a foreign services company on PE risk arising from its activities in Uzbekistan \u2014 PE threshold analysis under the applicable DTT, profit attribution methodology, and structuring recommendations to manage PE exposure.<\/p>\n<\/div>\n CIT Deductibility \u2014 Intercompany Fees<\/p>\n CIT \u00b7 Uzbekistan \u00b7 Corporate<\/p>\n Advising on CIT deductibility of management fees and technical services paid to a foreign parent \u2014 arm’s length analysis, documentation requirements, and WHT on service fee payments to the foreign parent entity.<\/p>\n<\/div>\n Investment Contract \u2014 CIT Stability<\/p>\n CIT \u00b7 Uzbekistan \u00b7 Investment<\/p>\n Advising a foreign investor on obtaining an investment agreement with the government of Uzbekistan \u2014 CIT rate stability guarantee, qualifying investment threshold, and ongoing compliance with investment agreement conditions.<\/p>\n<\/div>\n<\/div>\n Uzbekistan \u2014 Tax Advantages for Investors<\/p>\n \u2726 \u00a015% CIT rate \u2014 stable until 2028 under Presidential Decree No. UP-229<\/p>\n \u2726 \u00a0JSC dividend WHT exemption \u2014 0% until 31 December 2028<\/p>\n \u2726 \u00a0IT Tech Park \u2014 0% income tax until 2028 for qualifying residents<\/p>\n \u2726 \u00a055 DTTs \u2014 reducing WHT on dividends, interest, and royalties to treaty rates<\/p>\n<\/div>\n Uzbekistan \u2014 English Common Law Jurisdiction<\/p>\n Tashkent International Financial Centre (TIFC)<\/p>\n The TIFC \u2014 established March 2026 \u2014 provides tax exemptions until 2076 for qualifying participants. Bond Stone is monitoring the TIFC tax framework as implementing regulations are published.<\/p>\n Tashkent International Financial Centre \u2014 full guide \u2192<\/a><\/p>\n<\/div>\n Why Bond Stone<\/p>\n \u2726 \u00a0Tashkent office \u2014 direct engagement with Uzbek tax authorities<\/p>\n \u2726 \u00a0Ranked Legal 500 EMEA and IFLR1000 \u2014 Tashkent and Almaty offices<\/p>\n<\/div>\n Primary authority: lex.uz<\/a><\/p>\n Contact Bond Stone for a confidential discussion about Corporate Income Tax in Uzbekistan.<\/p>\n \ud83d\udce7 info@bondstonelaw.com<\/a> Request a Confidential Consultation<\/a> UZBEKISTAN \u00a0\u00b7\u00a0 TAX ADVISORY Corporate Income Tax in Uzbekistan Bond Stone advises international investors and multinational corporations on corporate income tax (CIT) in Uzbekistan \u2014 the standard 15% rate, sector-specific rates, SEZ and IT Tech Park CIT exemptions, and structuring investment activity to optimise the CIT position. The CIT rate is stable until 1 January […]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-4813","page","type-page","status-publish","hentry"],"translation":{"provider":"WPGlobus","version":"3.0.3","language":"ru","enabled_languages":["en","ru"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"ru":{"title":false,"content":false,"excerpt":false}}},"_links":{"self":[{"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages\/4813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/comments?post=4813"}],"version-history":[{"count":2,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages\/4813\/revisions"}],"predecessor-version":[{"id":4815,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages\/4813\/revisions\/4815"}],"wp:attachment":[{"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/media?parent=4813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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