Cyprus and Kazakhstan sign Double Taxation Convention

13-06-2019




The Republic of Cyprus and Kazakhstan signed on 15 May 2019 a Convention for the Avoidance of Double Taxation and for the combating of Tax Evasion with respect to taxes on income.  The Convention was signed in Nursultan, Kazakhstan, by the Cypriot Minister of Foreign Affairs Nikos Christodoulides and the Kazakh First Deputy Prime Minister, Finance Minister Alikhan Smailov.

The Convention with Kazakhstan is of key importance, as it is expected to further enhance the economic and trade ties between Cyprus and Kazakhstan, providing new opportunities and better protection to tax residents of both countries.  The new Convention is based on the OECD’s Model Convention for the Avoidance of Double Taxation on Income and on Capital.

According to the Cyprus Finance Ministry’s data, following the signing of the Convention with Kazakhstan, the Double Taxation Agreements signed between Cyprus and other countries increases to 65.

Article Source: www.in-cyprus.com