Majilis approved ratification of agreement on avoidance of double taxation

Astana. March 28. Kazakhstan Today - Today at the plenary session Majilis deputies approved the bill on ratification of the agreement between the government of Kazakhstan and Singapore on avoidance of double taxation and prevention of deviation from taxation concerning income taxes and its protocol.

"The purpose of the agreement is avoidance of double taxation of physical and legal persons - residents of both states and exchange of data and documents, exchange of experience, carrying out of investigations and the use of the received data and documents," the resolution of the Majilis Committee for International Affairs, Defense and Safety said.

According to the document, information interchange on any kind of taxes is confidential. Representatives of competent bodies of both states can conduct mutual consultations regarding avoidance of double taxation in cases not stipulated in the agreement.

The agreement was signed in Singapore on September 19, 2006.

The bill has been transferred to the Senate.

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