International treaty between Uzbekistan and Turkey on avoidance of double taxation of income entered into force
Tashkent, Uzbekistan (UzDaily.com) -- On 9 July 2020, a protocol on amendments and additions to the intergovernmental Agreement on Avoiding Double Taxation of Income from 8 May 1996, signed during the visit of the President of the Republic of Uzbekistan to the Republic of Turkey on 25 October 2017, entered into force.
According to the document, an updated procedure for the exchange of information between the competent authorities of the two states is envisaged. At the same time, the Agreement is supplemented by a new norm on assistance in the collection of taxes.
The amendments are aimed at ensuring "tax transparency", which helps to increase efficiency in the fight against tax evasion by individuals and legal entities of the two countries.
These changes and additions are determined by the need to improve the legal framework and bring the provisions of the Agreement in line with the current tax laws of the two countries.