Uzbekistan Compliance Report

Regulatory Overview

Regulatory Status

Regulators have not addressed crypto; legal status ambiguous

Primary Legislation

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Travel Rule

Not adopted

Tax Reporting

Gains obtained by individuals and legal entities from transactions with virtual assets **are not subject to capital gains tax**. This applies specifically to transactions conducted through virtual asset service providers licensed by NAPP in Uzbekistan.. **Exempt for direct virtual asset transactions.**. **For Individuals:** Income received by individuals from transactions with virtual assets (e.g., selling crypto for fiat or other crypto, mining income if directly held) is **exempt from personal income tax**, provided these transactions are carried out through licensed virtual asset service providers.. **For Businesses (Licensed Virtual Asset Service Providers):** While the *transactions themselves* are exempt for users, licensed virtual asset service providers (e.g., crypto exchanges, mining pools, crypto stores) are treated as regular business entities. Their **profits derived from their operational activities** (e.g., fees charged for services, spreads, commissions) are generally subject to corporate income tax and other applicable business taxes under the general tax code of Uzbekistan. The exemption applies to the *virtual asset transactions* for their clients, not to the service providers' business profits.. Uzbekistan's standard corporate income tax rate is generally **15%**.

Key Facts

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