Tax services in Uzbekistan

Tax accounting

This service may be provided either in conjunction with record keeping and reporting or as a separate service. It includes the following types of work required for accurate tax calculation:

• Development of a tax policy for tax purposes based on the company's industry-specific features;
• Maintaining tax registers;
• Calculating the CIT tax base:
• Calculating the value added tax (VAT) base:
• Calculating payroll related taxes:
• Calculating of income tax withholding due from non-resident legal entities and non-resident individuals;
• Calculating the property and land tax base (if applicable);
• Calculating taxes under simplified tax system (Unified tax payment and Unified land tax).

Tax reporting

Pursuant to Uzbek legislation, Uzbek legal entities must file tax returns with the tax authorities. This service also includes preparing the following reports and filing them with the tax authorities:

• Corporate income tax (CIT);
• VAT;
• Individual income tax and social tax for local employees;
• Individual income tax and social tax for foreign employees;
• Income tax withholding due from non-resident legal entities;
• Statistical reporting;

Other reports which should be submitted by the Company to the Uzbek tax authorities if applicable.

We prepare the above mentioned tax reports for both Uzbek legal entities and foreign legal entities.

All prepared reports are reviewed and filed on time with the tax authorities within the terms established by the Uzbek legislation.

Accounting and reporting in accordance with the Uzbek legislation

• Development of an accounting policy for record keeping purposes, with a custom working chart of accounts based on the specific aspects of each company;
• Conducting of accounting and preparation of primary documents in accordance with the requirements of Uzbek legislation;
• Preparation of reports in accordance with the local requirements;

According to Uzbek legislation, Uzbek tax payers should file their financial statements with the statistic and other state authorities annually.

Tax consultancy

The consulting services we offer include:

• The review and analysis of taxes for the period;
• Consultancies regarding the corporate and individual taxes;
• Analysis of potential tax risks (representative office activities, signs of the creation of a permanent establishment, the correct application of special privileges and exemptions, the taxation of foreign resident and non-resident individuals);
• The review of contracts with residents and non-residents for compliance with applicable laws, and tax consequence evaluation;
• International tax consulting, in particular, the application of international treaties, obtaining documentation required for tax exemptions in Uzbekistan;
• Foreign trade activities: customs procedures and charges, excise duties and value added tax;
• Development of an tax policy for appropriate and timely reflection of changes in activity of the company.