Senate ratifies Convention between Kazakhstan and Spain for double taxation avoidance
18:17, 28 December 2010
ASTANA. December 28. KAZINFORM /Muratbek Makulbekov/ The Kazakh Senate has adopted the Law "On ratification of the Convention between the Government of the Republic of Kazakhstan and the Government of the Kingdom of Spain for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital and its Protocol" at a plenary session.
Vice Minister of Finance Ruslan Dalenov noted that the Convention signed on July 2, 2009 in Astana is directed to strengthening and expansion of economic cooperation between Kazakhstan and Spain by creation of favorable conditions for investments. The Convention shall apply to taxes on income and on capital imposed on behalf of a Contracting State or its central authorities, political subdivisions, local authorities, irrespective of the method of their collection. In accordance with the Convention, income derived by a resident of a Contracting State from immovable property situated in another Contracting State may be taxed in that other State.