Kyrgyzstan and Vietnam reach agreement on taxation – deal almost finalised

Kyrgyzstan and Vietnam have agreed on a draft agreement to avoid double taxation – the document could simplify business between the two countries.

The second round of negotiations between the delegations of Kyrgyzstan and Vietnam took place in Hanoi from 21 to 23 April. The parties discussed the text of the agreement on the elimination of double taxation of income in detail and agreed in principle on its terms.
The document is scheduled to be signed once all internal procedures in both countries have been completed. It aims to:

• eliminate double taxation for businesses
• protect companies from discrimination
• prevent tax evasion
• exchange tax information

Negotiations between the countries have been ongoing for some time: the first round took place back in 2013 in Bishkek. Since then, the parties have only now returned to an active phase of dialogue, against the backdrop of attempts to strengthen economic cooperation.