Negotiations between Kyrgyzstan and Japan on the conclusion of a tax agreement have been completed

Official delegations from Kyrgyzstan and Japan held talks in Bishkek on concluding an agreement on the elimination of double taxation with respect to income taxes and the prevention of tax evasion or avoidance.

During the talks, the parties held detailed discussions on the provisions of the draft agreement.

The draft agreement will be signed after completion of all necessary internal procedures provided for by the legislation of each party.

The main purpose of the document is to eliminate double taxation of the income of economic entities in both countries, which will contribute to the creation of favourable conditions for the development of economic cooperation between Kyrgyzstan and Japan.

Agreements on the avoidance of double taxation are considered one of the effective tools for attracting foreign direct investment into the country's economy.

In addition, the document aims to protect residents of one state from discriminatory taxation in the territory of the other contracting state, prevent tax evasion and abuse of the provisions of the agreement, and develop mutual exchange of information between the competent authorities of the two countries.