Property tax for legal entities in Uzbekistan in 2026 is paid by companies that hold real estate: buildings, structures and unfinished construction. The main rate is 1.5% of the average annual net book value, but the base cannot fall below a set minimum per square metre (UZS 3.53 million in Tashkent). During the year the company pays advances based on a statement filed by 20 January, and it files the annual return and pays the balance by 1 March of the following year.
Below: who pays property tax, how the base is calculated, which rates apply in 2026, how advances and exemptions work, and where companies most often lose money.
Corporate property tax 2026 at a glance
| Item | Rule in 2026 |
|---|---|
| Taxpayers | Uzbek legal entities with real estate, non-residents with real estate in Uzbekistan, lessees of real estate under finance leases |
| Base | Average annual net book value, but not below the minimum value per sq m |
| Minimum value per sq m | Tashkent — UZS 3.53 million; Nukus and regional centres — UZS 2.35 million; other towns and rural areas — UZS 1.39 million |
| General rate | 1.5% |
| Increased rate | 3% — construction not completed within the standard period |
| Reduced rate | 0.7% — public railways, trunk pipelines, communication and power lines, assets mothballed by a Cabinet decision |
| Tax period | Calendar year |
| Statement for advances | By 20 January; new companies — within 30 days of registration |
| Advances | Turnover tax payers — 1/4 by the 20th of the third month of each quarter; others — 1/12 by the 10th of each month (January — by 20 January) |
| Annual return and balance | By 1 March of the year after the reporting year |
Who pays property tax
Taxpayers are Uzbek legal entities that own taxable real estate and non-residents that own real estate in the country. If a company takes a building under a finance lease, the lessee usually pays the tax. The tax regime does not matter: both VAT payers and turnover tax payers pay corporate property tax — only the advance schedule differs.
What is taxed
- buildings and structures whose title must be state-registered;
- unfinished construction once the standard construction period in the project documents has expired;
- railways, trunk pipelines, communication and power lines and their technological structures;
- housing held for sale on a developer's balance sheet — six months after commissioning.
What is not taxed
Exempt from the tax base are, among others, land plots (which are subject to land tax), assets of non-profit organisations used in non-profit activity, public roads, irrigation networks, and environmental and fire-safety facilities.
How the tax base is determined
The base is the average annual net book value of the real estate: the initial (replacement) cost less depreciation charged under the accounting policy. For unfinished construction the average annual cost is used, and for non-residents the average annual value of the asset.
Minimum value per square metre
For buildings and structures the base cannot be lower than the minimum: UZS 3.53 million per sq m in Tashkent, UZS 2.35 million in Nukus and regional centres, and UZS 1.39 million in other towns and rural areas. Local councils (Kengash) may apply a reducing coefficient of down to 0.5 depending on how developed the district is. If the real value of the asset is below the minimum, the company may commission an independent valuation, and its result (including a valuation done within the past two years) is accepted as the base.
In practice the minimum is what makes the tax noticeable: an old warehouse in Tashkent may have a net book value close to zero, yet the tax is still calculated as floor area times UZS 3.53 million. For example, with 500 sq m the minimum base is UZS 1,765 million and the tax at 1.5% is about UZS 26.5 million a year (an illustrative calculation).
Property tax rates in 2026
- 1.5% — the general rate for company buildings and structures, including those leased out.
- 3% — for construction not completed within the standard period, an incentive not to leave projects frozen.
- 0.7% — for public railways, trunk pipelines, communication and power lines, and assets mothballed by a Cabinet of Ministers decision. From 2026 this rate rose from 0.65% to 0.7%.
Deadlines: statement, advances and annual return
- By 20 January — a statement of the tax for the current year, calculated from the expected average annual value. New companies file it within 30 days of state registration.
- During the year — advance payments. Turnover tax payers pay 1/4 of the annual amount by the 20th of the third month of each quarter. Everyone else pays 1/12 by the 10th of each month, and the January instalment by 20 January.
- When the base changes (an asset is bought, sold or commissioned), you can file an updated statement and the remaining advances are adjusted.
- By 1 March of the following year — the annual return and payment of the balance after advances. Non-residents without a permanent establishment pay once a year by 15 February.
If the advances for the year were understated by more than 10% compared with the tax in the annual return, the tax authority recalculates them based on the actual amount and charges late-payment interest. So it is better to prepare the January statement with a margin rather than at the minimum. From 2026 the corporate property tax return is generated proactively by the tax authorities: you have 5 days to correct it, otherwise it is treated as accepted. All the year's dates are in our 2026 reporting calendar.
Exemptions and the new conditions for using them
The Tax Code reduces the base by the value of cultural, educational, healthcare, sports and social welfare facilities, assets of agricultural enterprises used to grow and store produce, and some other assets. Renewable energy installations, for example, are exempt: up to 100 kW for 3 years, and 100 kW or more for 10 years from commissioning.
From 2026, exemptions for corporate property tax and land tax apply only if both conditions are met for the previous year:
- revenue from sales of goods and services exceeds the amount of the exemption used;
- the average headcount is at least 3 employees, each paid at least twice the minimum wage (the minimum wage is UZS 1,360,000 from 1 September 2026, so the threshold is UZS 2,720,000).
A shell company with a single director can no longer use an exemption, even if its asset formally qualifies.
Typical mistakes
- Calculating from a book value below the minimum. The base must be at least the minimum value per sq m.
- Missing the 20 January statement. Without it no advances are charged, and by 1 March you have arrears plus interest.
- Unregistered extensions. Floor space missing from the cadastre comes to light during an inspection.
- Drawn-out construction. After the standard period the 3% rate applies.
- Using an exemption without checking the conditions. If the revenue and headcount tests fail, the tax is reassessed.
We calculate property tax, file the statements and check the proactive returns as part of our tax support and tax reporting services. If you would like your calculation reviewed, get in touch via contacts.
Frequently asked questions
What is the corporate property tax rate in Uzbekistan in 2026?
The general rate is 1.5% of the average annual net book value. Construction not finished on time is taxed at 3%, and linear infrastructure and mothballed assets at 0.7%.
Do turnover tax payers pay property tax?
Yes. Corporate property tax is paid by both VAT payers and turnover tax payers. The latter pay advances quarterly — 1/4 of the annual amount by the 20th of the third month of the quarter.
Can the tax be based on a value below the minimum per square metre?
Only if an independent valuation confirms a lower value. The valuation result, including one carried out within the past two years, is then accepted as the base.
When is the property tax return due?
The statement for advances is due by 20 January of the current year, and the annual return by 1 March of the following year, when the balance is also paid.
What happens if advances are understated?
If advances fall short of the annual tax by more than 10%, the tax authority recalculates them and charges late-payment interest for each day of delay.
Information is current as of October 2026. Tax rules change — check the current edition of the Tax Code and consult a specialist before making decisions.