In brief
In accordance with the official website of the Ministry of Finance of Kazakhstan, the next round of negotiations between the Governments of Kazakhstan and Kuwait on the draft Tax Convention for the avoidance of double taxation and the prevention of Fiscal evasion with respect to taxes on income and on capital (Tax Convention) took place in Astana.
In details
As a result of the negotiations, substantial advancement was achieved in agreeing on the text of the draft Tax Convention and only two provisions remained open. The parties agreed to undertake the necessary steps, discuss and revise the unagreed provisions of the draft in preparation for the next round.
The draft Tax Convention is intended to strengthen, expand economic cooperation, establish beneficial conditions for investment between the countries by avoiding double taxation of income of residents of the two countries.
This Tax Convention is the first of its kind document that is being developed and concluded between Kazakhstan and Kuwait in order to strengthen economic cooperation and create beneficial conditions for investment.
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