The Republic of Cyprus and Kazakhstan signed on Wednesday 15th May 2019, a Convention for the Avoidance of Double Taxation and for the combating of Tax Evasion with respect to taxes on income.
According to a press release issued by the Public Information Office, the Convention was signed in Nursultan, Kazakhstan, by the Cypriot Minister of Foreign Affairs Nikos Christodoulides and the Kazakh First Deputy Prime Minister, Finance Minister Alikhan Smailov.
The Convention with Kazakhstan is expected to further contribute to the economic and trade ties between Cyprus and Kazakhstan.
The new Convention is based on the OECD’s Model Convention for the Avoidance of Double Taxation on Income and on Capital.
According to the Finance Ministry’s data, following this addition, the Double Taxation Agreements signed between Cyprus and other countries increases to 65.