Tax on stock income in Uzbekistan
A resident of Uzbekistan pays personal income tax at the general rate of 12%, and 5% on dividends and interest. The tax office does not see income at a foreign broker by itself: you must declare it by 1 April of the following year and pay the tax by 1 June. Dividends from US companies are also taxed at source in the US.
A tax resident is someone present in Uzbekistan for more than 183 days within 12 consecutive months. The rates below apply to residents.
The general personal income tax rate is 12%. Dividends and interest are taxed at 5%. The law may grant relief for certain securities income, so check the current version of the Tax Code.
The broker withholds US tax on dividends from US companies. The default is 30%; the rate may be lower if the two countries have a double tax treaty, which is what form W-8BEN is for. Ask the tax office whether the US tax can be credited.
The annual income return is filed by 1 April of the year after the tax year, in your personal account on the tax office website; the tax is paid by 1 June. The figures come from the broker's annual statement.
You bought shares for $1,000 and sold them for $1,300: a $300 gain and $36 of tax at 12%. You received $50 in dividends: 5% in Uzbekistan, i.e. $2.50, plus what was withheld in the US.
FAQ
Do I have to declare income from a foreign broker?
Yes, income from sources outside Uzbekistan goes into the annual return.
What is the rate on dividends?
5% for residents of Uzbekistan, plus the tax withheld in the US.
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