Double Taxation Protocol signed by Uzbekistan, Luxembourg enters into force
Baku, Azerbaijan, August 2
By Fakhri Vakilov - Trend:
The Protocol on Amendments to the Convention between Uzbekistan and Luxembourg, signed in Luxembourg in September 2017, on the avoidance of double taxation and prevention of tax evasion on income and capital entered into force on July 26, 2019, Trend reports with reference to the Ministry of Foreign Affairs of Uzbekistan.
The new document allows bringing the provisions on the exchange of tax information in line with international standards and preventing the abuse of the terms of the treaties to avoid double taxation.
This is one of the main points of the action plan to combat the erosion of the tax base and the withdrawal of profits from taxation, developed by the Organization for Economic Cooperation and Development.
Article 6 of the Protocol states that its provisions will apply to taxes payable from January 1,2020.
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