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Kyrgyzstan and the Netherlands discuss agreement on double taxation

The Ministry of Economy and Finance of Kyrgyzstan hosted a meeting with the Deputy Ambassador of the Kingdom of the Netherlands Nout van Woudenberg to discuss an agreement on the avoidance of double taxation and prevention of tax evasion. Press service of the ministry reported.

The meeting was attended by the Honorary Consul of the Netherlands Elena Yun, Head of the Department of International Customs and Tax Relations of the Department of Customs and Tariff Policy Tynchtykbek Mukamatov, Leading Specialist of the Department of International Customs and Tax Relations, Curator for Cooperation with the Netherlands Ulan Beishebaev and Leading Specialist of International Customs and Tax Relations of the Department of Customs and Tariff Policy of the Ministry of Economy and Finance Zair Konurbaev.

«Work is underway to establish bilateral agreements with the states of the 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 the states is to eliminate double taxation of income and capital of economic entities in different countries. Agreements on avoidance of double taxation are also considered as a means of attracting foreign direct investment into the economy of the republic,» the Ministry of Economy and Finance said.

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