From April 1, 2022,  a rule was introduced to part 1 of Article 244 of the Tax Code of the Republic of Uzbekistan according to which banking operations, the cost of which is set in a fixed amount, are subject to the value added tax.

In accordance with the Tax Code and the Information Notice of the Ministry of Finance No. 06/04-01-02-32/859 dd. March 31, 2022, commercial banks are required to issue fixed commission invoices to their customers (legal entities) when providing services. Invoices are issued for the bank in order to automatically generate a register of invoices for services sold and for the client of a register of invoices for purchased services, for further acceptance of the VAT amount as offset.

Since invoices are issued on the basis of commissions already debited from the client, this invoice does not need to be paid!!!

We kindly request you not to reject the invoice, in case of any questions, contact the Chief Accountant of the branch or the Head of the Corporate Business Department of the branch