Bishkek, Jan.21, 2025. /Kabar/. The second round of negotiations on the draft Agreement on Avoidance of Double Taxation between Kyrgyzstan and the Hong Kong Special Administrative Region of the PRC was held on Jan. 15-17.
The main focus was on the elimination of double taxation of income and prevention of tax evasion, the press service of the Ministry of Economy of Kyrgyzstan said.
The negotiations ended with the successful achievement of agreements on all key aspects of the document.
The Agreement on Avoidance of Double Taxation is important for the development of economic cooperation between Kyrgyzstan and Hong Kong.
It is aimed at creating favorable conditions for foreign investors, protecting residents from double taxation, as well as strengthening transparency and fairness in tax relations.
The document includes provisions to help prevent abuse of tax laws and tax evasion.
It also provides for the exchange of information between the competent authorities of the two parties, which contributes to increasing the level of trust and mutual understanding between the countries.