Kyrgyzstan Ratifies Protocol To Prevent Double Taxation With South Korea

2025-05-27 05:06:10

(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, May 27 . President of Kyrgyzstan Sadyr Zhaparov has signed a law ratifying the protocol amending the agreement between the governments of Kyrgyzstan and the Republic of Korea on the avoidance of double taxation, Trend reports.

The protocol was signed on December 3, 2024, in Seoul and introduces amendments to the bilateral agreement originally concluded between the two countries on December 11, 2012. The document aims to eliminate tax barriers, prevent tax evasion, and promote bilateral economic relations in the areas of income and capital taxation.

"To ratify the Protocol on Amendments to the Agreement between the Government of the Kyrgyz Republic and the Government of the Republic of Korea on the Avoidance of Double Taxation and the Prevention of Tax Evasion concerning Taxes on Income and Capital," the document states.

The Ministry of Foreign Affairs of Kyrgyzstan has been instructed to officially notify the Korean side upon completion of the domestic procedures.

The law will enter into force ten days after its official publication.

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