According to the National Statistics Committee, Tashkent accounted for the largest share of the market, with real estate-related services totaling UZS 7.3 trillion during the five-month period.
Among the regions, Tashkent region ranked second with UZS 864.9 billion, followed by Samarkand region with UZS 567.1 billion, Fergana region with UZS 476.7 billion and Andijan region with UZS 400.1 billion.
In the remaining regions, the volume of real estate services ranged from UZS 134.6 billion to UZS 337.4 billion.
The latest figures come amid recent discussions over the taxation of newly constructed non-residential properties in Tashkent.
Earlier, reports circulated claiming that additional value-added tax (VAT) and corporate income tax were being assessed based on the market value of newly registered non-residential real estate. Responding to the reports, the Tax Committee said such a practice does not comply with Uzbekistan's tax legislation.
The committee explained that under the Tax Code, VAT is levied on the supply of goods and services, with the tax base determined by the value of the transaction. In other words, a VAT liability arises only when a taxable transaction takes place, such as the sale of goods, the provision of services or another operation recognized as a taxable event under the law.
