Kazakh parliament approves amendments to double taxation convention with Switzerland

Kazakhstan Materials 8 January 2014 15:22 (UTC +04:00)

Astana, Kazakhstan, Jan. 8

By Daniar Mukhtarov - Trend:

Kazakhstan's Majilis (lower chamber of parliament) has approved amendments to the Convention between Switzerland and Kazakhstan for the avoidance of double taxation with respect to taxes on income and capital.

"Changes include amendments to the convention's Article 25 'Mutual Agreement Procedure' and Article 26 'Exchange of information'. These changes will enhance cooperation between the contracting states' tax authorities and exchanging information on taxation issues in order to prevent tax evasion," the parliamentary press service said on Jan. 8.

Legislative amendments on transferring to the customs authorities the veterinary and sanitary control, as well as plant quarantine supervision at automobile checkpoints across the Customs Union border was adopted for consideration by the Majilis at a plenary session held on Jan.8.

"Arrangements for other types of control are coordinated to an extent with customs control given the fact that there are customs offices at all border points and taking into account the general nature of their work. In case of necessity of having to conduct several types of control at one place, the competent services should take all appropriate measures in order to carry them out at the same time, or in the shortest possible time," parliament's press service said.

A new draft law regarding work conditions at the European Bank for Reconstruction and Development in Kazakhstan was also sent for legal consideration.

The draft ratification law regarding the financial rules of the Secretariat of the Cooperation Council of Turkic Speaking States (CCTS) was also adopted for consideration by the Majilis.

"The signing of this agreement served as the basis for conducting the financial and economic activities of the CCTS Secretariat. Agreement is intended to give a new quality to the multilateral cooperation of Kazakhstan with the CCTS member states in political, economic, humanitarian, cultural and other fields. Provisions of the agreement define the funding sources, order of budget formation and execution of the CCTS Secretariat budget," parliament's press service said.

Translated by E.A.

Edited by S.M.