Foreign investments

Tax incentives for foreign investment in Uzbekistan – Taxation

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In this document, Deloitte presents a brief overview of the tax and customs advantages applicable to foreign investments in Uzbekistan.

Since the tax system in Uzbekistan is subject to frequent changes, we recommend that you use this overview for general purposes only. We will be happy to discuss any tax-related issues you may have in more detail.

Foreign investments

To attract foreign direct investment, Uzbekistan applies a system of various tax and customs concessions. Tax breaks extend to specific industries or areas, for example when registering a business in one of the industrial zones. Deloitte helps investors choose the best business model for their operations in Uzbekistan and analyze the best business development options.

Investment in specific industries

Presidential Order № УП-3594 of April 11, 2005 grants tax benefits to production enterprises in the chemical and petrochemical, engineering, lighting, food, alternative energy and others.

Eligible companies are exempt from:

  • corporate income tax;

  • property tax;

  • tax on the planning and development of social infrastructure;

  • compulsory contributions to the National Road Fund;

  • integrated tax payment for micro and small businesses;

The tax advantages in question are granted according to the investment amounts and apply between 3 and 7 years, provided that:

1. the companies in question are represented in all cities and rural areas of the country, except for Tashkent and Tashkent Oblast;

2. foreign investors make direct private investments without state subsidies;

3. the participation of foreign participants in the share capital must be at least 33%;

4. foreign investments are made in freely convertible currencies or in the form of new and modern production equipment;

5. at least 50% of the income generated as a result of the application of the concessions is reinvested for the further development of the business.

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 Industrial and Economic Free Zone1

  • Angren Special Industrial Zone2

  • Jizzakh Special Industrial Zone3

Subject to the value of the foreign investments, companies are eligible for concessions of variable duration on:

  • property tax

  • property tax

  • corporate income tax

tax on improvement and development of social and other infrastructure

As an additional incentive, special rules for making foreign currency payments have been introduced for companies registered in the above areas.

Companies have the right not to apply the elements of tax legislation that worsen their tax situation.

In addition to the general concessions applicable in all zones, particular concessions apply in specific zones.

At your request, we can prepare more detailed information on current tax and customs benefits, registration requirements and operations of foreign companies in Uzbekistan for specific companies and activities.


1 Presidential Decree №УП-4059 of December 2, 2008 on the establishment of a Free Industrial and Economic Zone in the Navoi Oblast

2 Presidential Decree №УП-4436 of April 13, 2012 establishing the Angren Special Industrial Zone

3 Presidential Decree №УП-4516 of March 18, 2013 on the creation of the special industrial zone of Jizzakh

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.


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