How capital gains tax works in Uzbekistan
Uzbekistan does not run a separate capital gains tax schedule for ordinary resident individuals. Capital gains are generally taxed at the standard 12% PIT rate, including gains from the sale of immovable property, based on the difference between sale price and acquisition price or statutory value where cost evidence is missing.
Companies include capital gains in taxable profit and generally pay 15% CIT, unless a higher sector rate or special rule applies. Non-residents are taxed on Uzbekistan-source gains, with a 20% rate noted for gains from property located in Uzbekistan.
Tax rates at a glance
- Resident individual gains
- 12%
- Resident real estate gains
- 12%
- Non-resident Uzbek property gains
- 20%
- Corporate capital gains
- 15%
- VAT on active business sales
- 12%
Who benefits most
These profiles tend to benefit most when the rules match their real residence, payroll and business setup.
InvestorsProperty ownersFoundersTradersRegional operators
Watch out for
- Keep acquisition documents. If cost cannot be supported, Uzbekistan may assess tax on sales proceeds or statutory values, especially for property.
- A sale that looks like investment disposal for PIT can be treated differently if it is part of registered business activity.
- Foreign tax residence, treaty rules and source-country withholding can change the result for securities or foreign assets.
Frequently asked questions
Does Uzbekistan have capital gains tax?
Uzbekistan generally taxes capital gains through PIT or CIT rather than a separate individual CGT schedule. Resident individuals generally pay 12%.
Are real estate gains taxed in Uzbekistan?
Yes. Resident individuals generally pay 12% on taxable gains from immovable property, and non-residents can face a 20% rate on gains from Uzbekistan property.
Are stock gains taxed in Uzbekistan?
Stock gains are generally taxable under the normal PIT or CIT rules unless a specific exemption applies.