BAKU, Azerbaijan, Oct. 23
By Klavdiya Romakayeva - Trend:
Uzbekistan and South Korea will expand effective mechanisms for the exchange of information in the tax area to prevent tax evasion, Trend reports referring to the Ministry of Foreign Affairs of Uzbekistan.
The Protocol on Amendments to the Convention between the Government of Uzbekistan and the Government of South Korea for the avoidance of double taxation and the prevention of tax evasion on income and capital of February 11, 1998, entered into force on October 18, 2020.
Following the provisions of the document, the parties have completed the relevant domestic procedures necessary for its entry into force.
The specified Protocol was signed on April 19, 2019, in Tashkent as part of the state visit of the President of South Korea Moon Jae-in to Uzbekistan.
The document provides for the expansion of effective mechanisms for the exchange of information in the tax area to prevent tax evasion.
The international treaty will help strengthen cooperation in the fight against tax violations and ensure compliance with the tax laws of the two countries.
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