Tax & Customs
Brief overview of Tax Regulations in Uzbekistan:
In the Republic of Uzbekistan, principles of taxation are primarily regulated in accordance with the Tax Code, and Resolutions of the President of the Republic of Uzbekistan setting tax rates in December for the upcoming year. For 2011 the Resolution was passed on December 24, 2010, No. PP-1449.
The Tax Code establishes that legal entities registered in Uzbekistan are subject to either a general taxation regime, or a simplified tax regime which is applied only in relation to specific categories of tax payers. Under the simplified taxation regime legal entities pay the single tax payment instead of all applicable state and local taxes which would have been paid under the general taxation regime, including the VAT. Tax reporting is made once a year with quarterly submission of tax calculations to local tax authorities. The general regime comprises payment of general state taxes and local taxes and collections, of which the most interesting to foreign investors being the following:
- Corporate profit tax;
- Income tax;
- Value added tax;
- Excise tax;
- Subsoil use tax;
- Water use tax;
- Property tax;
- Land tax; and
- Other mandatory payments
Tax practice provides an overview of Tax Law in Uzbekistan, including applicable regulations related to permanent establishment of foreign companies, tax rates, taxation of non-residents, double tax treaty exemption procedures, withholding taxes, templates of documents and agreements, forms of advises on related matters.