In this document, Deloitte presents a brief overview of tax and
customs concessions applicable to foreign investment in
As the taxation system in Uzbekistan is subject to frequent
changes, we recommend using this overview for general purposes
only. We will be glad to discuss any tax-related issues you may
have in more detail.
To attract direct foreign investment, Uzbekistan operates a
system of various tax and customs concessions. Tax concessions
extend to specific industries or areas, for example, when
registering a company in one of the industrial zones. Deloitte
helps investors chose the best business model for operations in
Uzbekistan and to analyse the best options for business
Investment in specific industries
Presidential Edict № УП-3594 dated 11 April
2005 provides tax concessions to production companies in the
chemical and petro-chemical, engineering, light, food, alternative
energy and other industries.
Qualifying companies are exempt from:
corporate profits tax;
tax on improvements and the
development of social infrastructure;
obligatory contributions to the
National Road Fund;
the integrated tax payment for
micro-firms and small businesses;
The tax concessions in question are awarded based on investment
amounts and apply for between 3 and 7 years, provided:
1. the companies in question are represented in all towns and
rural areas of the country, except for Tashkent and Tashkent
2. foreign investors make private direct investments without
3. foreign participants' interest in share capital should be
at least 33%;
4. foreign investments are made in freely convertible currency
or in the form of new and modern production equipment;
5. at least 50% of income generated as a result of application
of the concessions is reinvested for further company
Investment in specific economic zones
Special concessions have been approved for the development of
specific regions of Uzbekistan. The following Special Economic
Zones have been created:
Navoi Free Industrial and Economic
Angren Special Industrial
Jizzakh Special Industrial
Subject to the value of foreign investment, companies are
eligible for concessions of varying duration on:
corporate profits tax
tax on improvements and the development of social infrastructure
As an additional stimulus, special rules for making payments in
foreign currency have been introduced for companies registered in
the above zones.
Companies are entitled not to apply items of tax law that worsen
their tax position.
In addition to the general concessions applicable in all zones,
special concessions apply in specific zones.
At your request, we can prepare more detailed information on
current tax and customs concessions, registration conditions and
foreign company operations in Uzbekistan for specific companies and
1 Presidential Edict №УП-4059 dated 2
December 2008 On the Creation of a Free Industrial and Economic
Zone in Navoi Oblast
2 Presidental Edict №УП-4436 dated 13
April 2012 On the Creation of the Angren Special Industrial
3 Presidential Edict №УП-4516 dated 18
March 2013 On the Creation of the Jizzakh Special Indsutrial
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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