Kyrgyzstan, Slovakia sign agreement to avoid double taxation

Bishkek, March 13, 2024. /Kabar/. Signing of agreements between Kyrgyzstan and Slovakia on the elimination of double taxation in relation to income taxes and the prevention of tax evasion and tax avoidance took place at the Ministry of Economy and Commerce of the Kyrgyz Republic.

This agreements were signed on behalf of Kyrgyzstan by Minister Daniyar Amangeldiev, on behalf of Slovakia by Ambassador of the Slovak Republic to Kazakhstan and Kyrgyzstan Robert Kirnag.

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

Also, agreements on the avoidance of double taxation are considered as a means of attracting foreign direct investment into 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 the mutual exchange of information between the competent authorities of the contracting states.

To date, Kyrgyzstan has concluded agreements on the avoidance of double taxation with 36 countries, including Slovakia.