Section VI, “Tax Transfer Pricing Control,” contains the new Transfer Pricing provisions, which refer to the guidance set out in the Guidelines of the Organization for Economic Cooperation and Development (OECD) of the Tax Code of the Republic of Uzbekistan No. RU-135, dated December 25, 2007 (TC RU), came into force on January 1, 2022.

Related parties

The TC RU lists the criteria for related parties. For example, a legal entity directly and/or indirectly participates in another legal entity, and the share of its equity stake is 20% or more.

The pricing provisions apply to both local transactions between residents of Uzbekistan and cross-border related party transactions. For TP purposes, legal entities and individuals are considered related in the following cases:

  • If the indirect and direct equity stake of a legal entity and an individual in another legal entity exceeds 20%;
  • When a party has more than 20% of a direct or indirect equity stake in each of these entities;
  • When a legal person and an individual are authorized to appoint a single executive body, 50% of the collective executive body or the board of directors of the legal person;
  • Legal entities in which the same individual appoints a minimum of 50% of the collective executive body;
  • Legal entities in which a minimum of 50% of the collective executive body comprises the same individuals;
  • When an individual and a legal entity act as its single executive body;
  • Legal persons in which one individual is the same natural person as a single executive body;
  • The chain of direct equity stake between legal entities and individuals exceeds 50%;
  • Individuals, if one thereof is a subordinate employee; or
  • A person, his/her spouse, parents (including adoptive parents), spouse’s parents, children (including adopted children), siblings (complete and incomplete kinship), spouse’s siblings, and guardian.

Transfer Pricing Methods

The new Tax Code of Uzbekistan describes the following five methods, similar to those set out in the OECD Guidelines and considered the best international practice, for analyzing the Arm’s Length nature of controlled transactions:

  • Comparable Uncontrolled Price Method.
  • Cost Plus Method.
  • Resale Price Method.
  • Profit Split Method.
  • Transactional Net Margin Method.

Although the Transfer Pricing Provisions do not establish a specific hierarchy for the application of the methods, the Comparable Uncontrolled Price (CUP) Method should be a priority to analyze the Arm’s Length nature of the controlled transactions. If necessary, two or more methods may be applied together.

Transfer Pricing Documentation

In order to account for controlled transactions, taxpayers must prepare the following documents annually:

  • Notification of Controlled Transactions: According to the Transfer Pricing provisions, taxpayers must report their related party transactions no later than the filing date of the annual financial statements for the year in which the related party transactions were performed.
  • Transfer Pricing Documentation: Tax authorities may request that taxpayers provide the documentation on a particular transaction or group of similar transactions. Such documentation may include a document or set of documents prepared in a free format containing information on related party transactions, and pricing methods, among others.

The Documentation must be filed within 30 calendar days after the tax authority requests it.

Transfer Pricing Penalties

Failure to report controlled transactions (i.e., Transfer Pricing documentation) or filing a report with incorrect information may result in a fine of UZS 500,000.

Source: State Tax Committee of the Republic of Uzbekistan

Read More

 Author:       Wolfgang Hartl
 Author URI:
function WCD_rmrl(options) {
  const readLessText = options.readLessText;
  const readMoreText = options.readMoreText;

  const rmrlContent = document.querySelectorAll("[wcd_rmrl_percentage]");

  rmrlContent.forEach((element) => {
    // INITIAL SETUP (define height, overflow and attributes) = "hidden";
    element.setAttribute("wcd_rmrl_max", element.clientHeight + "px");

    var percentage = element.getAttribute("wcd_rmrl_percentage");
    var height = element.clientHeight;
    height = Math.round((height / 100) * percentage) + "px";

    element.setAttribute("wcd_rmrl_min", height); = height;

    trigger = element.nextSibling;
    trigger.addEventListener("click", function () {
      if ( == element.getAttribute("wcd_rmrl_min")) { = element.getAttribute("wcd_rmrl_max");
        this.childNodes.forEach((node) => {
          if (node.nodeValue !== null) {
            node.nodeValue = readLessText;
      } else { = element.getAttribute("wcd_rmrl_min");
        this.childNodes.forEach((node) => {
          if (node.nodeValue !== null) {
            node.nodeValue = readMoreText;
  const rmrl = new WCD_rmrl({
    readLessText : 'Read Less',
    readMoreText : 'Read More',


Contact us

To communicate with us you need to fill out the following form

Google reCaptcha: Invalid site key.