Official ceremony of signing of the Protocol Amending the Convention between the Government of the Republic of Uzbekistan and the Government of the United Kingdom of Great Britain and Northern Ireland on Avoiding Double Taxation and Preventing Fiscal Evasion with respect to Income and Capital Gains of November 15, 1993 took place in London yesterday.
On behalf of the UK, the document was signed by Financial Secretary to the Treasury, Mel Stride, and on behalf of Uzbekistan - Deputy Finance Minister, Director of the Treasury Dilshod Sattarov.
The Protocol amends the Convention to comply with international tax transparency standards. The document is intended to expand effective mechanisms of information exchange between the tax services of the two countries, to prevent fiscal evasion and other financial crimes.
In a brief interview, Mal Stride commended the large-scale economic reforms undertaken in Uzbekistan, including in the banking and financial sector. He stressed that the UK businesses are encouraged by the opening opportunities for mutually beneficial cooperation.
Deputy Finance Minister Uzbekistan Dilshod Sattarov is in London on a working visit at the invitation of the HM Treasury.