Tax and legislation news
Key changes in tax, accounting, audit and legislation in Uzbekistan: a short summary with a link to the official source.
Deposits in soums: offers of 26 banks, annual rates from 7% to 21% (as of 10 November)
According to a message on a Telegram channel, as of 10 November 2026 annual rates on term deposits in soums at 26 banks range from 7% to 21%. The highest rate is at Tayanch bank (21%, 24 months) and the lowest at Ziraat bank (7%, 6 months). Terms and minimum amounts differ, so comparing rates alone is not enough.
Gold bars rose 66% in two years: a 5-gram bar costs 9,017,000 soums, the bank buys it back at 7,776,000 soums
According to a message on a Telegram channel, as of 11 November 2026 the banks' selling price for a 5-gram gold bar is 9,017,000 soums, about 66% above 5,444,000 soums in November 2024. The bank buys the bar back below its selling price, at 7,776,000 soums: a gap of almost 14%.
Bank loan rates (as of 9 November): microloans from 21.9% to 39.9%, mortgages from 18.7% to 26.0%
According to a message on a Telegram channel, based on Central Bank data, average rates on loans issued in the last 10 working days are: microloans 27.5%, car loans 21.8%, mortgages 21.7%. The gap between banks for the same type of loan ranges from 7.3 to 18.0 percentage points.
Central Bank fined 6 banks and 2 microfinance organisations in October: the Banking Supervision Committee considered 43 issues
According to a message on a Telegram channel, the Central Bank's Banking Supervision Committee considered 43 issues at 6 meetings in October 2026. Fines were imposed on 6 banks and 2 microfinance organisations, and 1 bank and 1 microfinance organisation received a warning. The names and fine amounts were not published.
9 thousand ATMs were bought last year and over 50 million dollars of products imported: local production to be studied
According to Bankers.uz, 9 thousand ATMs were bought in the country last year and more than 50 million dollars of products were imported. President Shavkat Mirziyoyev instructed to calculate the demand for ATMs and to study the possibilities of producing them locally by attracting technology and investors.
TBC Uzbekistan's loan portfolio reached 10.7 trillion soums: Q3 2026 results
According to a message on the Bankers.uz Telegram channel, TBC Uzbekistan has published its Q3 2026 results under IFRS: the ecosystem's loan portfolio is 10.7 trillion soums and its deposit portfolio 6.7 trillion soums. There are 25.5 million registered users, 6.1 million of them monthly active.
Restriction on clearing iPhones at Tashkent airport lifted: UzIMEI representatives to work permanently
According to Telegram channels, the measure temporarily suspending the clearance of iPhones at Tashkent international airport has been lifted, and UzIMEI representatives will work there permanently to help customs officers determine IMEI numbers. The return of several hundred confiscated devices has begun.
Housing built on shared equity: the Legislative Chamber sends the bill to the Senate, buyers' money to be held in an escrow account
According to a message, the Legislative Chamber has considered the draft law “On the construction of multi-apartment buildings and other real estate on the basis of equity contributions” (unofficial translation of the title) and sent it to the Senate. The bill provides that participants' money goes into an escrow account at a bank rather than to the builder. The bill has not yet been adopted.
Uzbekistan has 372.7 thousand LLCs: 80.3% of all commercial organisations
According to the National Statistics Committee, as of 1 October 2026 Uzbekistan has 463.9 thousand active commercial organisations. Of these, 372.7 thousand, or 80.3%, are limited liability companies (LLCs).
Market services in the health sector reached 17.6 trillion soums: 14.2% growth in nine months
According to the National Statistics Committee, the volume of market services in the health sector in January–September 2026 was 17.6 trillion soums, up 14.2% in real terms. The largest share is in Tashkent city (8 trillion soums).
11.6 million foreign tourists visited Uzbekistan in 10 months: 19.4% growth
According to the National Statistics Committee, 11,622,103 foreign citizens visited Uzbekistan for tourist purposes in January–October 2026. That is nearly 1.9 million, or 19.4%, more than in the same period last year.
22.6 trillion soums of electrical equipment produced in nine months: 11% growth
According to the National Statistics Committee, large enterprises produced 22.6 trillion soums of electrical equipment in January–September 2026. The volume is 11% higher than in the same period last year. The largest shares are in Tashkent city (12 trillion soums) and Tashkent region (4.6 trillion soums).
Financial services reached 163.8 trillion soums in nine months: 22% growth
According to the National Statistics Committee, the volume of financial services in Uzbekistan in January–September 2026 was 163.8 trillion soums, 22% more than in the same period of 2025. Insurance services account for 6.9%.
If nominal growth is 23.2%, what is real growth? The difference between two statistical figures
The National Statistics Committee has explained nominal and real growth. Nominal growth is the change in value in money terms; real growth is the change with the effect of prices removed. This article shows the difference with other examples and a simple formula.
Air transport carried 6.9 million passengers and 86.4 thousand tonnes of cargo in nine months
According to the National Statistics Committee, 6.9 million passengers were carried by air transport in Uzbekistan in January–September 2026, 1% more than in the same period last year. Cargo carried over the period came to 86.4 thousand tonnes.
Construction of buildings and structures reached 241.2 trillion soums in nine months: 71.1% of construction work
According to the National Statistics Committee, the largest share of construction work by type of economic activity in January–September 2026, 71.1%, went to the construction of buildings and structures (241.2 trillion soums).
Uzbekistan has 621.1 thousand enterprises and organisations: most in trade and agriculture
According to the National Statistics Committee, as of 1 October 2026 Uzbekistan has 621.1 thousand active enterprises and organisations. The most are in trade (170,555) and in agriculture, forestry and fishing (135,411).
What do the ingredients for 1 kilogram of plov cost? By region: from 113,356 to 134,146 soums
The National Statistics Committee has calculated by region the cost of the ingredients for one kilogram of plov for October 2026: cheapest in Karakalpakstan (113,356 soums), most expensive in Tashkent city (134,146 soums). This is not the selling price of cooked plov.
GDP reached 1,755.5 trillion soums in nine months: Tashkent city is first with a GRP of 372.1 trillion soums
According to preliminary data from the National Statistics Committee, Uzbekistan's GDP in January–September 2026 was 1,755.5 trillion soums at current prices. Among the regions, Tashkent city has the largest gross regional product (372.1 trillion soums) and the highest real growth (13.1%).
The number of sole proprietors in Uzbekistan reached 357.9 thousand: Tashkent city, Fergana and Samarkand lead
According to the National Statistics Committee, as of 1 October 2026 there are 357,883 active sole proprietors (individual entrepreneurs) in Uzbekistan. The most are in Tashkent city (56,858).
584.2 trillion soums of fixed capital investment were made in nine months: manufacturing received the most
According to the National Statistics Committee, 584.2 trillion soums of investment in fixed capital were made in Uzbekistan in January–September 2026, 20.1% more than in the same period last year. The largest volumes went to manufacturing (160.8 trillion soums) and housing construction (87.1 trillion soums).
Uzbekistan exported 1,560.6 thousand tonnes of fruit and vegetables worth 1.3 billion dollars in nine months
According to the National Statistics Committee, Uzbekistan exported 1,560.6 thousand tonnes of fruit and vegetable products in January–September 2026, worth 1.3 billion US dollars. The largest share is vegetables (557.2 thousand tonnes).
Uzbekistan has 66 thousand industrial enterprises: most in food (13.3 thousand) and non-metallic mineral products (9.2 thousand)
According to the National Statistics Committee, as of 1 October 2026 Uzbekistan has 66 thousand active industrial enterprises. The largest shares are in the manufacture of food products (20.2%) and of other non-metallic mineral products (13.9%).
GDP per capita reached 44.7 million soums: Navoi region (140.0 million soums) and Tashkent city (114.5 million soums) lead
According to preliminary data from the National Statistics Committee, GDP per capita in January–September 2026 was 44,692.3 thousand soums, up 6.4% in real terms. Among the regions, the highest figure is in Navoi region.
Do tax benefits apply under the simplified VAT procedure? The international treaty exception
The Tax Service has explained that under the simplified procedure for calculating and paying VAT, the tax benefits and preferences of the general procedure do not apply. However, if a VAT benefit is established by an international treaty of the Republic of Uzbekistan, it can be used when the conditions are met.
From 11 December, 84 general IKPU codes for goods subject to mandatory digital labelling will become inactive
According to the Tax Service, from 11 December 2026, 84 general IKPU codes (MXIK in Uzbek) relating to labelled goods will be switched to inactive status. What manufacturers, importers, wholesale and retail businesses should check, and what to do if the right code does not exist.
4 state-owned banks are being prepared for privatisation: Uzpromstroybank, Asakabank, Aloqabank and Turonbank
The Ministry of Economy and Finance's fiscal strategy for 2027–2029 sets out the transformation and privatisation of four state-owned banks. Which document was adopted for each bank and what stage the process is at.
Inflation was 0.6% in October 2026; annual inflation fell to 6.5%
According to the National Statistics Committee, prices of consumer goods and services rose by an average of 0.6% in October. Annual inflation was 6.5%, down 1.3 percentage points from October 2025. The largest increases were in eggs, vegetables, and cold water and sewerage services.
Accounts Chamber results for 9 months: 84 audits, 2 trillion soums of financial errors and 10.2 trillion soums of violations in public procurement
In the first 9 months of 2026 the Accounts Chamber carried out 84 audit activities, 46 of them remotely. On the spending side it found financial errors of 2 trillion soums and optimized spending of 4.2 trillion soums; on the revenue side it found 1.6 trillion soums of additional sources, and in public procurement it identified violations of the law worth 10.2 trillion soums.
Draft resolution on supporting the jewelry industry discussed: zero duty on imported precious stones, extension of VAT exemptions
The Public Council for Supporting Entrepreneurship under the President discussed a draft Presidential resolution on the jewelry industry. The draft provides for a zero customs duty rate on imported precious stones, extension of VAT exemptions, lower customs fees and a digital control system. The document has not yet been adopted.
From 1 September the minimum wage is 1,360,000 and the BCA 440,000 soums: recalculated thresholds and fines for accountants
Under Decree PF-115, from 1 September 2026 the minimum monthly wage is 1,360,000 soums and the base calculation amount (BCA) is 440,000 soums. Thresholds tied to the BCA have changed too: the threshold for switching to the general tax regime is 5.28 billion soums, and the fine for filing a tax return late is 1,320,000 or 4,400,000 soums.
Liquefied gas at 5,000 soums per kg, compensation of up to 60,000 soums a month for gas and up to 600,000 soums a year for coal, and 1 million soums in aid for families in need
Under Cabinet of Ministers Resolutions No. 601 and No. 602 of 31 October 2026, from 15 November liquefied gas costs 5,000 soums per kg, families in need receive compensation of up to 60,000 soums a month for gas and up to 600,000 soums a year for coal, plus one-off aid of 1 million soums in November. The range of families eligible for electricity and gas compensation has been widened.
From 3 November at least 10% of a loan advert and at least 30% of the contract's first page must carry a warning
Central Bank Board Resolution No. 3948 took effect on 3 November 2026: loan advertising and the first page of a loan agreement must carry a mandatory warning. For a misleading loan product, the Central Bank may restrict or ban some of a bank's operations or the expansion of its infrastructure for up to 6 months.
Refused entry to the "Social Register" or disagree with a "Mahalla Seven" decision? File an online complaint via my.gov.uz
Under Cabinet of Ministers Resolution No. 35 of 29 January 2026, complaints about a refusal to include a family in the "Social Register" and about documents drawn up by the "Mahalla Seven" are reviewed within 15 days by appeal councils at district (city) administrations. Complaints can be filed electronically via my.gov.uz.
What fines banks pay for violating customers' rights: the full list under Central Bank Regulation No. 3492
Central Bank Regulation No. 3492 sets fines for banks that violate the rights of financial services consumers. The rules were updated by amendments No. 3492-1, effective 6 August 2026: fines apply to each case separately, from 3 million to 100 million soums, and for systemic shortcomings 0.01% of total capital but no less than 300 million soums.
Fiscal Strategy 2027–2029: tax incentives to be reviewed, VAT exemptions cut, oversight to go digital
The Ministry of Economy and Finance has drafted a Fiscal Strategy for 2027–2029. It plans to review incentives under corporate profit tax, personal income tax and VAT, cut VAT exemptions, raise excise, property and resource tax rates step by step in line with inflation, and further digitalize tax and customs administration.
Presidential meeting: tax revenue tops 130 trillion soums, but loss-making companies and those only claiming input VAT are in focus
At a meeting on 21 July 2026 it was noted that tax revenue had grown by 27% since the start of the year to more than 130 trillion soums, while the annual plan for additional revenue was only 40% fulfilled. Using Bukhara region as an example, 162 companies with losses for three years in a row and 1,500 companies that only claimed input VAT were criticized.
ai.soliq.uz: how the AI-powered AI SOLIQ portal helps accountants
The Tax Committee's AI SOLIQ service on the ai.soliq.uz portal gives a general analysis of a company's tax relations, shows why an e-invoice was placed in the "red" category, provides information on the tax rating and incentives, and explains tax returns.
A "Отчет" (Report) section on ed1.customs.uz and ed2.customs.uz: data can be downloaded to Excel for analysis
A "Отчет" (Report) section has been added to the customs portals ed1.customs.uz and ed2.customs.uz. For now it provides data for 1 month, which can be downloaded to Excel for analysis. Useful for accountants working with imports and exports.
Fines for late tax returns: new amounts from 2026 and two forms of relief
From 1 January 2026 the fine for late tax returns is 3 × BCA for micro-firms, small enterprises and individuals, and 10 × BCA for officials of other legal entities. Several returns in one period mean one fine, and disciplined filers get a 5-day grace period.
Decree PF-175: the "Second Chance" amnesty, a 15% profit tax for services at bazaars and interpretation in favour of entrepreneurs
Presidential Decree PF-175 of 27 August 2026 provides several reliefs for entrepreneurs: late-payment interest (penya) is written off if a small or medium-sized business pays its tax arrears in full by 31 December 2026, a 15% corporate profit tax rate applies to services at bazaars and trade complexes, the minimum rent for a founder's property is abolished, and the burden of proof shifts to the state body.
Export currency proceeds are now filled in automatically in the VAT return
Lines 060 and 070 of Appendix 3 and line 01042 of Appendix 6 of the VAT return are now generated automatically from customs data. A new return package, No. 10006_47, has been released for this.
Partial refund of paid VAT no longer depends on the sustainability rating
Under Decree PF-175, businesses in catering, tour operating, hotels and several other sectors get part of their paid VAT refunded regardless of their sustainability rating.
New tax relief for small businesses: a simplified 6% VAT regime and other changes (Decree PF-100)
Presidential Decree PF-100 of 26 May 2026 lets businesses in trade, catering and services opt for a simplified 6% VAT regime, eases VAT administration and cuts back some tax audits.
From 1 July 2026, general MXIK codes for construction resources will be phased out of e-invoices
Sellers of construction materials will have to use detailed product codes instead of general MXIK codes in electronic invoices. The restriction is being introduced in stages from 1 July 2026.
For information only; check the official text at the source.