Spain, Uzbekistan agree to avoid double taxation
Uzbekistan and Spain signed an agreement on the avoidance of double taxation and prevention of tax evasion.
The Uzbekistan State Tax Committee reported that the agreement was achieved during the visit of an Uzbek delegation to Madrid with the document being signed by the Chairman of Uzbekistan's State Tax Committee Botir Parpiev and Secretary of State for Finance, Miguel Ferre.
"The signing of this type of international agreement creates a number of benefits in economic, legal and financial terms. Specifically, the agreement will strengthen the investment cooperation between the two countries and create a good legal framework for future projects," the report reads.
Under the agreement, Uzbekistan and Spain will exchange information on tax issues. The sides will also carry out an exchange of banking information.
The document will come into force three months after fulfilling all the necessary internal legal procedures by Uzbekistan and Spain.
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