Uzbekistan launched the Tashkent International Financial Centre on 13 July 2026, granting qualifying firms a 50-year tax holiday on financial services income through 2076. Multinational groups earning over EUR 750 million annually remain subject to a qualified domestic minimum tax.
Uzbekistan’s Constitutional Law on the Tashkent International Financial Centre (TIFC), enacted on 13 July 2026, created a dedicated financial hub with tailored tax and regulatory treatment. The new framework operates under its own legislation rather than standard tax code provisions.
Tax exemptions for qualified participants
Until 1 January 2076, registered TIFC participants meeting prescribed criteria can operate free from corporate income tax and social tax on earnings from designated financial services and related ancillary services. Participants must demonstrate sufficient economic substance within TIFC boundaries to qualify.
The tax-exempt category extends to five specific income streams through the same 2076 deadline.
Income from selling TIFC-listed securities, including capital gains. Income from selling shares or stakes in TIFC participant companies, also including capital gains. Dividend and interest payments from TIFC-listed securities. Dividend income from TIFC participant shareholdings. Foreign-sourced income earned by individuals holding TIFC investment tax resident status.
Property, goods, and services relief
TIFC-owned or TIFC-operated real estate faces no property tax or land tax obligations. Activities conducted by TIFC entities under TIFC rules are exempt from value-added tax. Imported goods destined for use within TIFC territory avoid both customs duties and customs fees.
Exception for large multinationals
Participants belonging to multinational enterprise groups recording consolidated annual revenues of EUR 750 million or more across at least two of the preceding four fiscal years cannot access these incentives. Such entities must comply with a Qualified Domestic Minimum Tax, applied at the standard rate. TIFC regulations will establish the calculation, payment, and administrative procedures for this obligation.
