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Uzbekistan 2014 VAT compliance changes

  • VAT
  • 09 February 2014 | Richard Asquith

Uzbekistan 2014 VAT compliance changes

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

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.