Controlled transactions notification form has been approved
Starting from 1 January 2022, Chapter VI of the Tax Code of the Republic of Uzbekistan "Tax control on transfer pricing" has been introduced. In order to exercise the control, the form and rules for preparing the notification on controlled transactions ("Notification") were approved according to Annex 2 of the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 111 dated 10 March 2022 (“Resolution”).
- Information on a taxpayer (type of a taxpayer, code of economic activity, etc.).
- Information on controlled transactions (information on a basis for the control, amounts of revenues or expenses, etc.).
- Information on a transaction subject (transactions terms, a place of origin of a transaction’s object, etc.).
- Information on a legal entity – a transaction party (name of a legal entity, INN, etc.).
Taxpayers having controlled transactions should submit the Notification to the tax authority at the place of registration on an annual basis not later than the deadline for submitting annual financial statements for the calendar year of the controlled transactions.
Authors:
- Doniyorbek Zulunov
- Dilovar Mavlonov
- Maryna Tarnavska
