BAKU, Azerbaijan, April 5. Kyrgyzstan and Azerbaijan are holding negotiations on agreement on avoidance of double taxation and prevention of evasion from payment of taxes, Trend reports via the Ministry of Economy of Kyrgyzstan.
The Kyrgyz side is presented by the representatives of the Ministry of Economy of Kyrgyzstan and the State Tax Service under the Ministry of Finance of the Kyrgyzstan. The negotiations started on April 4 in Baku.
Currently, Kyrgyzstan is working on establishment of bilateral agreements with different countries, aimed at regulating tax relations between partner countries by granting each state the right to tax certain types of income and capital.
The main goal of the agreements is to eliminate double taxation in different countries.
The agreements on the avoidance of double taxation are also considered as a means of attracting foreign direct investment into the economy of Kyrgyzstan.
In addition, the main tasks of such agreements are to protect residents of one state from discriminatory taxation in another contracting state, prevent tax evasion or abuse of the provisions of the agreements, and mutual exchange of information between the competent authorities of the contracting states.