Accounting Outsourcing and
Tax compliance in Uzbekistan
Uzbekistan– Accounting Outsourcing and Tax Compliance
Uzbekistan in facts
- Location: Central Asia
- Territory: 448,978 square kilometers
- Capital: Tashkent
- Official language: Uzbek
- Currency: Uzbek som (UZS)
- Population: 34,04 million
Corporate income tax (CIT)
- Unified tax payment (UTP) – Set at 4%;
- Unified land tax (ULT) – Applies to businesses in the agricultural sector at the rate of 0.95% of the value of the land on which revenue is generated. It is also known as a fixed rate;
Value-added Tax (VAT)
Personal Income tax (PIT)
- Interest income and dividends, 5% for residents, and 10% for non-residents.
- Rental, asset gain and employment incomes, 12% for residents, and 20% if otherwise.
- Freight and transport services, 6% for non-residents.
Withholding tax
Payroll related taxation
- Artistry
- Farming industry
- Entrepreneurship
Import/ Export related taxation
Custom duty
It is duty on all imports. Clearance at the point of entry of products into the country is critical. Nonetheless, there are limits to how much you can charge for a particular value of the goods. The custom tax rates will range from 5% to 70% depending on a number of factors. Also, a clearance fee is subject to imports which is set at 0.2%.
Subject to how clearance fee should be evaluated, it should not exceed USD 3,000 and a minimum of USD 25.
Excise taxes
The rate ranges from 5% to 70%. Just like customs, excise duty is based on the value of the product where the rates apply. Cigarettes, alcohol and petrol are subject to this duty.
Apart from the above products, services due to mobile communication are also excisable. This is in addition to the sale of alcohol, and liquefied petroleum gas (LPG). In the production of cigarettes, a fix rate for the same will apply.
All these government directives, through the tax laws, add weight to how one should account for taxation in Uzbekistan. With a clear understanding of the rates and which products or incomes should be taxed at what rate, life becomes easier.