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TAXATION OF LEGAL ENTITIES
There are two types of taxation regimes in Uzbek legislation: "general" and "simplified" taxation of legal entities.
The following taxes are paid by legal entities that chose the "general" regime:
- Value-added tax. According to art. 258 of the Tax Code of the Republic of Uzbekistan [https://lex.uz/ru/docs/4674893#4695789] (hereinafter - the “Code”) tax rate of 15% levied on sales turnover of goods (services) in Uzbekistan and import of goods into the territory of the Republic of Uzbekistan;
- Tax on profit is charged on the profits of a legal entity, i.e., from the difference between the total income received and expenses incurred. The tax rate is set at 15%, except in cases specified in art. 337 of the Code;
- Tax on assets. The object of taxation is immovable property, and 1,5% tax is levied on average annual residual value;
- Land tax is levied on land plots, which legal entities have on the basis of ownership, possession, use, or lease rights;
- Social tax, under art. 403, 405 of the Code, is charged at the rate of 12% on the employer's expenses for labor payment to employees;
- Excise tax is paid depending on the type of activity of a legal entity specified in art. 284 of the Code.
Under the simplified tax regime, legal entities whose aggregate income for the tax period does not exceed UZS 1.000.000.000 (approx. USD 93.500) may opt for paying tax on turnover instead of paying value-added tax and tax on profit. In this case, the tax is levied on the aggregate income of the legal entity specified in art. 297 of the Code. Depending on the type of activity, the tax rate varies from 1% to 25% (art. 467 of the Code).
