Kazakhstan ratifies double taxation treaty with OmanKazakhstan's Senate ratified an intergovernmental agreement with Oman on avoiding double taxation and preventing tax evasion on income and capital, clearing the final parliamentary hurdle before the measure heads to the president for signing.The lower house, the Mazhilis, passed the legislation earlier. The treaty is designed to boost economic cooperation and attract investment by eliminating double taxation between the two countries."The law provides for further improving the investment attractiveness of both sides by unifying tax legislation," Senate Speaker Maulen Ashimbayev said. "The agreement defines the types of income subject to taxation and mechanisms for exchanging tax information."The treaty covers residency rules, permanent establishments, the distribution of taxes on income including dividends, interest and royalties, and guarantees non-discrimination in tax matters. It also sets out procedures for information exchange, mutual agreement and the limitation of benefits.The agreement expands the legal framework between Kazakhstan and Oman, eliminates double taxation and strengthens the fight against tax evasion in line with international standards. (ICE ALMATY)

Fonte notizia: INTERFAX