Chairperson of the State Tax Committee of Uzbekistan Botir Parpiev and László Szabó, Parliamentary State Secretary of the Ministry of Foreign Affairs and Trade of Hungary, signed the document in Budapest.

After mutual ratification, this amendment will update the agreement to meet the latest international standards on exchange of tax information between the two countries’ tax authorities.

It will allow for full exchange of information between the competent authorities in Hungary and the Republic of Uzbekistan, which excludes the lack of domestic interests as an excuse and also makes compulsory the issue of information related to banking secrecy and ownership interests. The contents of the protocol comply with international practice, OECD standards.