Senators OK Kazakh-Qatari agreement on taxation

On Thursday, the upper chamber of the Kazakh Parliament, Senate, endorsed the law "On ratification of the Agreement between the Government of the Republic of Kazakhstan and the Government of the State of Qatar for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income" at its plenary session.

Kazakhstan's Minister of Finance Bakhyt Sultanov, who introduced the law to MPs said ‘the agreement is called to strengthen and expand economic cooperation between Kazakhstan and Qatar by creating favorable conditions for investments.' According to him, the document envisages the avoidance of double taxation for businesses and individuals of both Kazakhstan and Qatar. It also stipulates exchange of information between tax agencies of the two countries.