Living There

April 26, 2018

INDIVIDUAL TAXATION

Residents are taxed on their worldwide income. Married couples are taxed separately.

INCOME TAX

Income is classified into the following categories: (1) employment income, (2) income from property, (3) income in the form of material benefit, and (4) other income.

Income is taxed at progressive rates, and the tax bands are based on the minimum statutory wage. The annual minimum statutory wage is UZS1,420,800 or US$542, and the monthly minimum statutory wage is UZS118,400 or US$45.

INCOME TAX 2015

TAX BASE, UZS(US$) TAX RATE
Up to 1 Minimum Statutory Wage 0%
5 Minimum Statutory Wage - 10 Minimum Statutory Wage 8.5%
5 Minimum Statutory Wage - 10 Minimum Statutory Wage 17%
Over 10 Minimum Statutory Wage 23%
Source: Global Property Guide

INCOME TAX 2015

TAX BASE, UZS(US$) TAX RATE
Up to 118,400 (US$45) 0%
118,400 - 592,000 (US$226) 8.5%
592,000 - 1,184,000 (US$452) 17%
Over 1,184,000 (US$452) 23%
Source: Global Property Guide

RENTAL INCOME
Rental income is taxed at the standard income tax rates.

CAPITAL GAINS
Capital gains are treated as ordinary income and taxed at the standard income tax rates. Taxable gains are calculated by deducting acquisition costs and related expenses from the selling price or market value of the property.


PROPERTY TAXATION

Property Tax

Property tax is levied at different rates, depending on the classification of the property owner and the property size. It is levied on the value of the property as determined by regional authorities. Individual property owners generally pay property tax at between 1.70% and 2.90%.


CORPORATE TAXATION

INCOME TAX

Income and capital gains earned by companies are taxed in Uzbekistan at a flat rate of 7.5%. Income-generating expenses are deductible when calculating for the taxable income.

Property Tax

For legal entities such as partnerships and corporations, property tax is levied at a flat rate of 5%.

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