Elimination of Double Taxation Approved with the Netherlands
On May 6, 2024, the Committee on International Affairs, Defense, Security and Migration of the Parliament of Kyrgyzstan approved an agreement between Kyrgyzstan and the Netherlands in the second reading. This agreement focuses on the elimination of double taxation in relation to income taxes and the prevention of tax evasion.
The Ministry of Economy reported that Kyrgyzstan has signed similar agreements with 35 countries up to this point. The main aim of this bill is to prevent the taxation of income of business entities on the same items in different states, which will help in promoting fair and efficient tax practices between the two countries.
This agreement is part of Kyrgyzstan’s ongoing efforts to strengthen international relations and ensure transparency in tax matters. It reflects the country’s commitment to creating a favorable environment for businesses and fostering economic growth.
The approval of this agreement is a significant step towards enhancing cooperation between Kyrgyzstan and the Netherlands, as well as improving the overall business environment in Kyrgyzstan. It is expected to benefit both countries by facilitating fair and efficient tax practices and promoting economic development.
