Uzbekistan to Shift Real Estate and Construction Materials Valuation to Market Prices From 2026

Tashkent, Uzbekistan (UzDaily.com) — Starting from 1 January 2026, the tax base for real estate and construction materials in Uzbekistan will be determined based on their market value.

The provision is included in the presidential decree of 10 December, “On Additional Measures to Expand Cashless Payments and Reduce the Shadow Economy,” the Ministry of Justice reported.

Under the decree, legal entities operating in the construction and trade sectors are required to maintain records of their authorized capital and any changes to it, including information on goods contributed as capital.

Supporting documents — electronic invoices, online receipts, cargo customs declarations, notarized contracts and others — must be submitted to the tax authorities’ database via the taxpayer’s personal account within 15 days.

Beginning in 2026, foreign companies selling goods or providing electronic services to individuals in Uzbekistan without tax registration will be required to register within 30 days of receiving a notification.

If they refuse, their activities in the country will be restricted.

The decree also strengthens oversight of food reserves.

A field tax audit will be initiated if imported food products are not sold within nine months, or if fresh meat and fruit-and-vegetable products remain unsold for three months, provided that their residual value exceeds 500 base calculation units (206 million soums).

In addition, during desk audits, tax authorities must take into account any supplementary documents submitted by taxpayers to justify their position.

From 1 July 2026, inspections of entrepreneurs by supervisory agencies, when conducted on legally established grounds, will be carried out only through the use of body cameras — a measure expected to increase transparency of oversight procedures.