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Agreement for avoidance of double taxation signed with Azerbaijan

Minister of Economy of Kyrgyzstan Daniyar Amangeldiev and his Azerbaijani counterpart Mikail Jabbarov signed an agreement on April 24 in Baku for the avoidance of double taxation in relation to income taxes and prevention of tax evasion and tax avoidance. The press service of the Ministry of Economy and Commerce reported.

Thus, including Azerbaijan, Kyrgyzstan has concluded agreements for the avoidance of double taxation with 37 countries of the world.

It is noted that agreements for the avoidance of double taxation are also 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,» the press service said in the statement.

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