Bishkek, Nov. 22, 2024. /Kabar/. President of Kyrgyzstan Sadyr Zhaparov signed the Law of the Kyrgyz Republic "On ratification of the Agreement between the Kyrgyz Republic and the Republic of Azerbaijan on the elimination of double taxation with respect to income taxes and the prevention of tax evasion and tax avoidance, signed on April 24, 2024 in Baku."
The law was adopted by the Zhogorku Kenesh on October 23, 2024.
The main objectives of the Agreement 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 Agreement, and to exchange information between the competent authorities of the contracting states to ensure compliance with the provisions of the Agreement.
The Agreement is a unified form in solving common problems and tasks arising in the legal sphere of international double taxation, and allows for the development of a common approach in the relationship between the Kyrgyz Republic and the Republic of Azerbaijan in the field of tax legislation.
The Agreement will also create conditions for foreign companies to invest in various sectors of the economy of our country by eliminating double taxation and providing guarantees for taxation only in one country.
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