Kyrgyzstan and Azerbaijan Eliminate Double Taxation

"The main objectives of the agreement are to protect residents of one state from discriminatory taxation in another contracting state, prevent tax evasion or abuse of the provisions of the agreement, and mutual exchange of information between the competent authorities of the contracting states to ensure compliance with the provisions of the agreement."

President Sadyr Japarov has ratified an agreement between Kyrgyzstan and Azerbaijan aimed at eliminating double taxation on income and preventing tax evasion and avoidance, The Caspian Post reports citing Kyrgyz media.

The law was passed by the Kyrgyz Parliament on October 23, 2024.

The presidential press service reports that the main objectives of the agreement are to protect residents of one state from discriminatory taxation in another contracting state, prevent tax evasion or abuse of the provisions of the agreement, and mutual exchange of information between the competent authorities of the contracting states to ensure compliance with the provisions of the agreement.

"The agreement will create conditions for foreign companies to invest in various sectors of our country’s economy," the statement says.