Kyrgyzstan, Cyprus hold talks on double taxation avoidance ...

AKIPRESS.COM - The second round of talks on double taxation avoidance and tax evasion agreement and was held on April 26 between the Kyrgyz Republic and the Republic of Cyprus in the form of video conference, the Ministry of Economy reported.

Representatives of the Ministry of Economy and Commerce, Ministry of Finance, Ministry of Foreign Affairs, State Tax Service participated in the talks.

The sides agreed on the text of the above agreement during the talks.

Kyrgyzstan has so far signed double taxation agreements with 37 countries.

The main goal of the agreement is avoidance of double taxation of business entities in countries.

The double taxation avoidance agreements are seen as tools to attract foreign direct investments into the national economy.

"The main tasks of the agreements are protection of residents of one state from discriminatory taxation in another state, prevention of tax evasion and abuse of provisions of the agreement, mutual exchange of information between competent authorities," the Ministry of Economy reported.

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