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Government approves ratification of Kyrgyz-UK double taxation avoidance agreement.

The Government has approved ratification of the agreement with the UK on avoidance of double taxation and prevention of tax evasion with respect to taxes on income and capital gains.

Agreement on avoidance of double taxation serves to relieve double taxation of income that is earned in one jurisdiction by a resident of the other jurisdiction.

The agreement serves as protection of a resident of one state from discriminatory taxation in another contracting state, prevents tax evasion or abuse of the provisions of the agreement through the exchange of information between the competent authorities of the contracting states.

The document aims at attracting foreign direct investments in the economy of the Kyrgyz Republic as it allows foreign firms to invest in the country being sure that they will not be double taxed.

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Publication:AKIpress Central Asian News Service
Date:Feb 27, 2018
Words:141
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