Page 56 - CEE Tax Guide 2025
P. 56
Uzbekistan
Forvis Mazars LLC
8A Afrosiab street, office 501,
5 floor “Dmaar Plaza” Business
th
Center, Tashkent – Uzbekistan
Phone: +998 93 373 11 40
www.forvismazars.com/uz
Corporate taxes and other direct taxes assets is set out in the Tax Code and is substantively
similar to IFRS principles. Losses can be carried
In general, the concept is similar to the CIT approach forward without limitation. The rules on the carrying
used in developed countries worldwide. Taxable forward of losses do not apply to losses generated
income is calculated as annual income minus during periods when a company has enjoyed
expenses. It is only possible to deduct properly tax benefits. There are thin capitalization rules.
documented expenses provided that the expenses A CFC rule exists.
are connected with the taxable income. Dividends
and capital gains are excluded from taxable income. WHT applies to incomes paid to non-residents that
The percentage of depreciation norms for fixed are not registered for tax purposes in Uzbekistan.
Taxable incomes are listed in the Tax Code.
Transfer pricing in Uzbekistan Uzbekistan has signed 54 treaties on avoidance
of double taxation. Although the treaty rates prevail
Arm’s length principle Since 2020
over the Tax Code, non-residents must have a duly
Documentation liability Since 2022 issued tax residency certificate to be able to apply
the treaty. The multilateral instrument (MLI)
APA Since 2022
is not in force.
Country-by-Country No N/A
liability Small and medium businesses may enjoy a special
Master file-local file No N/A tax regime according to which the Unified Tax
(OECD BEPS on income is paid. This tax replaces CIT.
13) applicable
VAT and other indirect taxes
Penalty
lack of documentation N/A Less than 500 EUR. The VAT concept is quite similar to the concept
applied in developed countries worldwide. The
tax shortage N/A 20% of tax shortage
turnover subject to VAT is in general the total value
Related parties N/A Legal entities are of sales (Output VAT). The VAT paid to suppliers
considered to be related:
– legal entities are
related if one legal
entity holds a direct VAT options in Uzbekistan Applicable / limits
or indirect participation
in another legal Distance selling No
entity and the share Call-off stock No
of such participation
in the charter VAT group registration No
capital exceeds 20%
– an individual and Cash accounting – yearly No
a legal entity are related amount in EUR (approx.)
if the individual holds
a direct or indirect Import VAT deferment No
participation in the legal
entity and the share Local reverse charge
of such participation Option for taxation
in subscribed
capital exceeds 20%. letting of real estate No
Safe harbors No N/A supply of used real estate No
Level of attention paid 5/10 VAT registration 1 bUZS (approx. EUR 77k)
by Tax Authority threshold
Central and Eastern European tax guide 2025 Forvis Mazars 56
