Adoption of the bill “On ratification of the protocol between the governments of Kazakhstan Republic and Azerbaijan Republic on amendments and additions to the convention between the governments of Kazakhstan Republic and Azerbaijan Republic on avoidance of double taxation and prevention of income and property tax evasion from Sep. 16, 1996” will play an important role in the taxation matters between the two countries, Finance Minister of Kazakhstan Bakhyt Sultanov said, addressing the Senate session.
“The bill, proposed for your [Senate’s] ratification, will firstly allow to develop the cooperation between tax agencies of both countries by expansion of information exchange and, secondly, to apply internal legislation when revealing cases of tax evasion and misuse of the convention’s clauses,” the minister said.
According to him, the protocol also actualizes tax names by changing outdated names to modern ones according to the tax legislation of both countries.
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