Uzbekistan. Tax and legal news. January 2022.

Tax changes from 1 January 2022.

• The net profit from the activities of permanent establishments is regarded as a dividend and is taxed at the rate of 10%. The net profit is the difference between the income and expenses of the permanent establishment. The net profit of the current tax period is reduced by the total amount of losses received in previous tax periods.
• The corporate property tax rate has been reduced from 2% to 1.5%. However, for immovable property, the tax is calculated based on the minimum value per square meter, which depends on the territorial location of the property. If the minimum value is higher than the value paid by the company, the company is entitled to an independent valuation.