Bishkek, Apr. 23, 2018 / Kabar /. From April 16 to April 19, the Ministry of Economy hosted the IV round of negotiations on a draft agreement on avoidance of double taxation and prevention of tax evasion regarding income taxes between the governments of Kyrgyzstan and the Czech Republic.
During the negotiations, the sides reached a full concord on all the articles of the draft Agreement. After the implementation of domestic procedures, this project will be ready for signing.
Currently, work is under way to establish bilateral agreements with the foreign states aimed at regulating tax relations between partner countries by assigning to each state the right to tax certain types of income and capital.
The main purpose of such relations between countries is the elimination of double taxation of income and capital of economic entities by the same taxes in different countries.
It should be noted that the agreements on avoidance of double taxation are also considered as a means of attracting foreign direct investments into the economy of the republic.