Senate ratified bill improving economic coop with Czech Republic
ASTANA. KAZINFORM The Law "On ratification of the Protocol of amendments to the Convention between the Republic of Kazakhstan and the Czech Republic on avoidance of double taxation and prevention of evasion of taxes in regard to income and capital tax" has been approved today at the Senate's plenary session.
“One of the aims of the Protocol is to expand cooperation of the two countries' tax services through the exchange of information in taxation in order to prevent the evasion of tax payment. The existing convention does not allow to exchange information in tax related issues between Kazakh and Czech authorized bodies, since both Kazakhstan and the Czech Republic adopted the laws on confidentiality of information. The Protocol includes an article obliging the countries to exchange information regardless of whether there is such a law or not,” Minister of Finance Bakhyt Sultanov said presenting the bill.