The Head of State signed the Law of the Republic of Kazakhstan “On ratification of the Protocol on introducing amendments and additions to the Treatty between the Republic of Kazakhstan and the Czech Republic for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and capital”, the President’s press-service informs.
One of the objectives of this Protocol is to extend cooperation of tax services between the two countries through the exchange of information on tax matters in order to prevent tax evasions.
The currently effective Treaty does not allow the exchange of information in order to prevent tax evasions due to the law "On confidentiality of information" available in Kazakhstan and the Czech Republic, while the Protocol provides for an obligation of the Contracting States to exchange information regardless of the presence of the confidentiality law.
It should be noted that the Protocol provides for the treaty regulations regarding taxation in favor of the Republic of Kazakhstan in respect of revenues from the exploration of natural resources performed in the country, fines and penalties on debt instruments and other income derived from Kazakhstan’s sources.
The Protocol amended paragraph 3 of Article 2 of the Treaty between the Republic of Kazakhstan and the Czech Republic for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and capital in terms of clarification of the types of taxes which the Treaty applies to.
In order to enhance cooperation between the tax authorities, the Protocol introduces amendments on a number of common issues, such as the exchange of information and elimination of double taxation.
Name of “MinTax” used in this proposal, depending on the context, can refer to MinTax LLP or MinTax Audit LLP and to its structural subdivisions as well. MinTax LLP and MinTax Audit LLP are included into MinTax Group acting on the basis of the Partnership Agreement, and are considered to be separate and independent legal entities founded under the Republic of Kazakhstan legislation, and they are responsible for all rights and obligations only on their behalf. The Companies which are included in MinTax Group are not responsible for any actions or omissions of each other
CONFIDENTIALITY | LEGAL ASPECTS