The signing of an agreement between the Kyrgyz Republic and the Special Administrative Region of Hong Kong, China, regarding the elimination of double taxation on income and capital took place virtually.
The purpose of this document is to eliminate the situation of double taxation for economic entities of both parties, as well as to prevent tax fraud and ensure the exchange of information between the relevant authorities.
In addition, the agreement provides protection for residents of one state from discriminatory taxation in the territory of the other, aimed at preventing abuses of its provisions.
The Ministry of Finance emphasized that such agreements on the avoidance of double taxation contribute to attracting foreign direct investment and developing economic cooperation between Kyrgyzstan and Hong Kong.
