Kazakhstan , Malaysia ratified double taxation agreement

Other News Materials 23 February 2007 16:34 (UTC +04:00)

( Kazakhstan Today ) - The President of Kazakhstan Nursultan Nazarbayev signed the law on ratification of the agreement between the government of the Republic Kazakhstan and the government of Malaysia on avoidance of double taxation and prevention of deviation from taxation concerning income taxes and its Protocol," the president's press service said.

As it was informed earlier, the purpose of the agreement is avoidance of double taxation of physical and legal persons - the residents of both states. The agreement stipulates the order of taxation of dividends, incomes of debt requirements of any kind, royalty, the transfers of data and documents, an exchange of experience, carrying out of investigation and the use of the received data and documents.

The agreement stipulates mutual information interchange between the competent bodies of the parties applied to any kind of taxes and is confidential.

The agreement is termless. After the end of the 5year period from the date of its introduction any of the parties can send cancellation notice of the agreement.

The agreement was signed in Kuala Lumpur on June 26, 2006.