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Kyrgyzstan and Azerbaijan plan to conclude agreement on avoidance of double taxation

Kabar. Since April 4, 2023, negotiations have been underway in the city of Baku to conclude an Agreement on the avoidance of double taxation and the prevention of tax evasion in relation to taxes on income between Kyrgyzstan and Azerbaijan, the press service of the Ministry of Economy and Commerce of the Kyrgyz Republic reported.

Representatives of the Ministry of Economy and Commerce of the Kyrgyz Republic and the State Tax Service under the Ministry of Finance of the Kyrgyz Republic take part in these negotiations from the Kyrgyz side.

Currently, work is underway to establish bilateral agreements with states of near and far abroad aimed at regulating tax relations between partner countries by assigning to each state the right to tax certain types of income and capital.

The main goal of such relations between countries is to eliminate double taxation of income of business entities with the same taxes in different countries.

It should be noted that double taxation agreements are also considered as a means of attracting foreign direct investment in the economy of the republic.

In addition, the main objectives of the Agreements are to protect a resident of one state from discriminatory taxation in another contracting state, to prevent tax evasion or abuse of the provisions of the Agreements, and to exchange information between the competent authorities of the contracting states.

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