ASTANA, 8 January — IA Novosty-Kazakhstan. Deputies of Majilis (lower chamber) of the Parliament of Kazakhstan have approved the draft law “On ratification of the Protocol between the Government of Kazakhstan and the Swiss Federal Council on amendments to the Convention for the avoidance of double taxation with respect to taxes on income and on capital, and the protocol signed in Bern on October 21, 1999” as the correspondent of the agency reports.

The Protocol requires the introduction of a change in the definition of “Kazakhstan”, “resident” in connection with the changes provided for in the legislation of the two states.

“It also provides for amendments to article 25 of the Convention described as “Mutual Agreement Procedures” and Article 26 of the Convention described as “The exchange of information.” These amendments will enhance the cooperation between tax authorities of the Contracting States and exchange information on tax matters in order to prevent tax evasion,”- as it is said in the conclusion of the relevant committee.

In addition, the conclusion sates that the terms “pension fund or pension scheme”, “pension” are brought into compliance with the national legislation of the Republic of Kazakhstan.

Source: http://news.mail.ru/inworld/kazakhstan/politics/16386562/