UZBEKISTAN \u00a0\u00b7\u00a0 TAX ADVISORY<\/p>\n
Bond Stone advises multinational corporations on transfer pricing in Uzbekistan \u2014 the arm’s length principle applicable to controlled transactions between an Uzbek entity and its foreign affiliates, documentation requirements, and structuring management fees, royalties, and intercompany loans to comply with Uzbek transfer pricing rules and withstand tax authority scrutiny.<\/p>\n
Primary authority: Tax Code of the Republic of Uzbekistan (transfer pricing provisions, as amended by Law No. ZRU-1013 dated 24 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 Transfer pricing framework \u2014 Uzbekistan<\/p>\n Uzbekistan’s transfer pricing rules are embedded in the Tax Code and require that transactions between related parties be priced on arm’s length terms \u2014 as if conducted between independent parties in comparable circumstances. The Uzbek transfer pricing framework is broadly consistent with OECD Transfer Pricing Guidelines, though local documentation requirements and audit practices have specific features. The retention period for transfer pricing documentation was reduced from 5 to 3 years from 2024 under recent Tax Code amendments.<\/p>\n<\/div>\n Controlled transactions \u2014 scope<\/p>\n Uzbek transfer pricing rules apply to: transactions between an Uzbek entity and its foreign affiliates; transactions with entities in preferential tax jurisdictions (a list maintained by the Uzbek Ministry of Finance); and transactions that the tax authority determines are structured to shift profit out of Uzbekistan. Management fees, technical services, royalties, intercompany loans, and goods supply between related parties are all subject to transfer pricing scrutiny. The Uzbek tax authority has increased its focus on transfer pricing audits in recent years.<\/p>\n<\/div>\n Transfer pricing methods<\/p>\n The Uzbek Tax Code recognises the following methods for determining the arm’s length price: Comparable Uncontrolled Price (CUP); Resale Price Method; Cost Plus Method; Transactional Net Margin Method (TNMM); and Profit Split Method. The most appropriate method depends on the nature of the transaction and the availability of comparable data. Bond Stone advises on method selection and coordinates with the client’s transfer pricing specialists on the economic analysis.<\/p>\n<\/div>\n Documentation requirements<\/p>\n Uzbek taxpayers conducting controlled transactions above the materiality threshold are required to maintain transfer pricing documentation demonstrating arm’s length pricing. The documentation must be available for submission to the Uzbek State Tax Committee on request. From 2024, the mandatory retention period is 3 years. Bond Stone advises on Uzbek documentation requirements and coordinates with the multinational group’s global transfer pricing policy to ensure local compliance.<\/p>\n<\/div>\n Management fees and technical services<\/p>\n Management fees and technical services paid to foreign parent companies are among the most scrutinised intercompany transactions in Uzbekistan. The Uzbek tax authority examines whether the services were actually provided, whether the fee is arm’s length, and whether the deduction is supported by appropriate documentation. Bond Stone advises on structuring and documenting management service arrangements to satisfy Uzbek tax authority requirements.<\/p>\n<\/div>\n Preferential jurisdiction transactions<\/p>\n Transactions with entities in jurisdictions on Uzbekistan’s preferential (low-tax) jurisdictions list are subject to enhanced transfer pricing scrutiny regardless of whether the counterparty is a related party. Bond Stone advises on identifying whether a counterparty’s jurisdiction is on the Uzbek list and on the enhanced documentation obligations that apply to such transactions.<\/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 Management Fee Structure<\/p>\n Transfer Pricing \u00b7 Uzbekistan \u00b7 Corporate<\/p>\n Advising on structuring management fee payments from an Uzbek subsidiary to its foreign parent \u2014 arm’s length fee determination, service documentation (service agreement, evidence of delivery), WHT on fee payments, and CIT deductibility.<\/p>\n<\/div>\n Royalty \u2014 IP Licence Pricing<\/p>\n Transfer Pricing \u00b7 Uzbekistan \u00b7 IP<\/p>\n Advising on transfer pricing for a royalty payment under an IP licence from a foreign group entity to an Uzbek licensee \u2014 arm’s length royalty rate (domestic WHT 20%, reduced to 5\u201310% under applicable DTT), TNMM analysis, documentation, and WHT planning.<\/p>\n<\/div>\n Intercompany Loan \u2014 Arm’s Length Rate<\/p>\n Transfer Pricing \u00b7 Uzbekistan \u00b7 Finance<\/p>\n Advising on arm’s length interest rate for an intercompany loan from a foreign parent to an Uzbek subsidiary \u2014 comparable uncontrolled price analysis, documentation, WHT on interest (10% domestic rate), and CIT deductibility of interest payments.<\/p>\n<\/div>\n Documentation Preparation<\/p>\n Transfer Pricing \u00b7 Uzbekistan \u00b7 Compliance<\/p>\n Preparing transfer pricing documentation for a multinational group’s Uzbek subsidiary \u2014 local file covering management services, intercompany loans, and goods supply, with 3-year retention period compliance.<\/p>\n<\/div>\n Preferential Jurisdiction \u2014 Enhanced Scrutiny<\/p>\n Transfer Pricing \u00b7 Uzbekistan \u00b7 Corporate<\/p>\n Advising on enhanced transfer pricing documentation obligations for transactions with a counterparty in a jurisdiction on Uzbekistan’s preferential list \u2014 documentation requirements and risk mitigation strategy.<\/p>\n<\/div>\n Tax Authority Challenge \u2014 Response<\/p>\n Transfer Pricing \u00b7 Uzbekistan \u00b7 Dispute<\/p>\n Advising an Uzbek subsidiary on responding to a transfer pricing query from the Uzbek State Tax Committee \u2014 reviewing the authority’s comparables analysis, preparing a defence, and negotiating the adjustment.<\/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 Transfer Pricing in Uzbekistan.<\/p>\n \ud83d\udce7 info@bondstonelaw.com<\/a> Request a Confidential Consultation<\/a> UZBEKISTAN \u00a0\u00b7\u00a0 TAX ADVISORY Transfer Pricing in Uzbekistan Bond Stone advises multinational corporations on transfer pricing in Uzbekistan \u2014 the arm’s length principle applicable to controlled transactions between an Uzbek entity and its foreign affiliates, documentation requirements, and structuring management fees, royalties, and intercompany loans to comply with Uzbek transfer pricing rules and withstand tax […]<\/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-4819","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\/4819","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=4819"}],"version-history":[{"count":2,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages\/4819\/revisions"}],"predecessor-version":[{"id":4821,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages\/4819\/revisions\/4821"}],"wp:attachment":[{"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/media?parent=4819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nKey Framework<\/h2>\n
\nExperience<\/h2>\n
\nInvesting in Uzbekistan<\/h2>\n
\nDiscuss your Uzbekistan tax matter<\/h2>\n
\n\ud83d\udcde +7 (701) 729 76 72<\/a><\/p>\n
\n\u2190 Withholding Tax & DTT<\/a>
\nVAT in Uzbekistan \u2192<\/a>
\n\u2190 Tax Advisory Hub<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"