Accounting and tax terms

An accounting policy is an internal document setting out how a company keeps its books and tax records: depreciation method, inventory valuation, cost allocation and revenue recognition.

The base calculation unit (BHM in Uzbek, БРВ in Russian) is the statutory unit used to set tax thresholds, fines, state duties and reliefs. The turnover-tax ceiling, for example, is 12,000 BCU. Its value is revised periodically.

A desk audit is a tax review carried out without visiting the business, based on filed returns and data the authority already holds. If it finds inconsistencies, it requests an explanation.

Didox is one of Uzbekistan's largest accredited electronic document operators. Businesses use it to exchange e-invoices, acts and contracts; it integrates with 1C and roams with other operators.

E-IMZO is Uzbekistan's state digital signature. It is used to sign e-invoices, tax returns and contracts, and is issued to a company's head or another authorised person.

EEISVO is Uzbekistan's unified electronic system for foreign-trade operations. Import and export contracts, amendments, specifications and acts must be registered in it, otherwise the bank will not process payment.

An electronic invoice (ESF) has been mandatory in Uzbekistan since 1 January 2020. It is signed with E-IMZO, sent through an accredited operator and becomes legally valid once the State Tax Committee validates it in real time.

A fractional CFO is the finance-director role performed part-time by an outside specialist or team: management reporting, budgeting, cash flow and financial strategy.

IFRS (MHXS in Uzbek, МСФО in Russian) are the international standards for preparing financial statements. Foreign investors, international banks and parent companies require reporting under them.

An IT Park resident is an information-technology company registered with IT Park. Residents enjoy tax benefits but must file monthly reports and pay contributions.

An LLC (MChJ in Uzbek, ООО in Russian) is the most common form of company in Uzbekistan. Members are liable for the company's obligations only up to their share of charter capital.

A nil return is filed by a company that had no activity or turnover in the period. Filing is mandatory even without activity; otherwise the company risks fines and an account freeze.

Personal income tax (JShDS in Uzbek, НДФЛ in Russian) is withheld from employees' salaries and other income. The employer calculates and withholds it as a tax agent and reports monthly by the 15th.

A reconciliation statement confirms the balance of mutual settlements between two parties — for example a company and the tax authority or a supplier. It is used to establish debts or overpayments.

Simplified VAT is a 6% regime that businesses in trade, catering and services can choose voluntarily from 1 June 2026 until 1 January 2030. Input VAT is not credited and corporate income tax is 0%.

A sole proprietor (YaTT in Uzbek, ИП in Russian) trades as an individual without forming a legal entity. From 2026, those with turnover under UZS 1 billion pay 1% turnover tax. A sole proprietor is personally liable with their assets.

A statutory audit is the annual independent review of financial statements required of certain categories of company. It must be completed by 15 June of the following year by registered audit firms applying International Standards on Auditing.

The TIN (STIR in Uzbek, ИНН in Russian) is a unique 9-digit number assigned to every taxpayer and shown on every tax return, invoice and bank document.

Turnover tax is the simplified regime for businesses with annual turnover up to 12,000 BCU. It is paid instead of corporate income tax and VAT. In 2026 the standard rate is 4% and returns are filed monthly.

VAT (QQS in Uzbek) is an indirect tax on the value added when goods and services are sold. In 2026 the standard rate is 12%, exports are zero-rated, and trade, catering and services can opt into a simplified 6% rate.