Kyrgyzstan and Hong Kong sign agreement on avoidance of double taxation

Today, the Ministry of Economy and Commerce of the Kyrgyz Republic signed an online agreement between the Kyrgyz Republic and the Hong Kong Special Administrative Region (PRC) on the avoidance of double taxation on income and capital and the prevention of tax evasion.

The purpose of the agreement is to eliminate double taxation of the income of economic entities of the two countries, which will create favourable conditions for the development of economic cooperation and attract foreign direct investment to Kyrgyzstan.

The document also aims to protect residents from discriminatory taxation in the territory of another country, prevent abuse of the provisions of the agreement and ensure effective exchange of information between the competent authorities of the two states.