Uzbekistan 2014 VAT compliance changes

Sun 9th Feb 2014

The Uzbek tax code has been revised for 2014 to include the following changes:

  • Resubmitted VAT returns no longer must be accompanied with written confirmation with the reasons for any changes
  • Fines for undeclared VAT liabilities has been cut from 100% of the tax due to 20%
  • Imports for the production of children’s clothing by foreign companies is no longer VAT exempt
  • The inclusion of tangible and intangible assets (inc work-in-progress) in the founding capital of a business is no longer a VAT exempt supply