The document is significant for eliminating double taxation on the incomes of entrepreneurs from both sides. This will create favorable conditions for deepening economic cooperation between Kyrgyzstan and Hong Kong.
The ministry emphasized that agreements regarding the avoidance of double taxation are an effective tool for attracting foreign direct investment into the country's economy. In addition, the agreement includes measures to protect residents from discriminatory taxation in another country, as well as mechanisms to prevent tax evasion and abuse of its provisions. An important part of the agreement is also the development of mutual information exchange between the competent authorities of both sides.
