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Kyrgyzstan ratifies agreement with Turkmenistan on elimination of double taxation

14 May 2019 [10:50] - TODAY.AZ

By Trend

Kyrgyzstan has ratified an agreement between the governments of Kyrgyzstan and Turkmenistan on the elimination of double taxation and prevention of tax evasion with respect to taxes on income, Trend reports referring to the press service of the Kyrgyz Parliament.

The document was signed on August 23, 2018 in the Turkmen capital of Ashgabat. The agreement defines the rules for distinguishing the rights of each of the signatory states on taxation of subjects of one state that have a taxation object in another state, the information says.

The agreement protects a resident of one state from discriminatory taxation in another signatory state, and prevents tax evasion or abuse of the provisions of the agreement by exchanging information between the competent authorities of the contracting states. It was reported earlier that Turkmenistan and Kyrgyzstan are discussing the prospects for cooperation in the creation of processing enterprises.

The parties agreed to support the creation of joint ventures aimed at the markets of the EU, the Eurasian Economic Union (EAEU) and China. Kyrgyzstan is also negotiating with the state commodity and raw materials exchange of Turkmenistan to look for opportunities for increasing trade.

Turkmenistan is ready to consider the possibility of joint mining and processing of minerals in Kyrgyzstan. The parties are discussing the prospects of partnership in industry and transport.


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