Mazhilis OKs bill on double taxation with Slovenia

10:49, 21 December 2016

ASTANA. KAZINFORM - The lower chamber of the Kazakh Parliament - Mazhilis - has endorsed today the draft law "On ratification of the Convention between the Republic of Kazakhstan and the Republic of Slovenia for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and the Protocol to the Convention" at the plenary session in Astana.

"The Convention submitted for ratification will allow to avoid double taxation of businesses and individuals who happen to be residents of the contracting states," said Minister of Finance Bakhyt Sultanov introducing the draft law at the session.

Minister Sultanov especially stressed that the ratification of the Convention will facilitate strengthening and expansion of economic cooperation between Kazakhstan and Slovenia through creating favorable conditions for investment.

According to him, two-way trade between Kazakhstan and Slovenia has amounted to $1,23 billion over the past ten years. In 2015, it totaled $93,1 million. Kazakhstan mainly exports ferrochrome and ferrosilicium to Slovenia. Slovenia has invested over $15 million into Kazakhstan over the past decade. Volume of Slovenian investment into Kazakhstan made $4,2 million last year.

Parliament Kazakhstan and EU Majilis

Kudrenok Tatyana

Автор