05.19
CYPRUS AND KAZAKHSTAN SIGN DOUBLE TAXATION AVOIDANCE AGREEMENT
A Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed

Tax Updates

A Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed on 15.05.2019 in Nursultan, Kazakhstan, between the Republic of Cyprus and the Kazakhstan.

On behalf of the Republic of Cyprus, the treaty was signed by the Minister of Affairs Nikos Christodoulides and on behalf of the Kazakhstan by Kazakh First Deputy Prime Minister, Finance Minister Alikhan Smailov.

The Treaty is based on the OECD’s Model Convention for the Avoidance of Double Taxation on Income and on Capital.

The enforcement date of the Treaty will become known once the Treaty is approved by the Cyprus Parliament.  Relevant publication of the Parliament’s approval and the contents of the Double Taxation Treaty will be announced in the Official Gazette of the Republic of Cyprus.

The agreement with Kazakhstan is expected to enhance economic and trade ties between Cyprus and Kazakhstan, providing new opportunities and better protection to tax residents of both countries.

Upgrading and expanding the network of Double Taxation Conventions, is of high economic and political importance and aims to further strengthen Cyprus as an international business center.

 

DISCLAIMER

This publication has been prepared as a general guide and for information purposes only. It is not a substitution for professional advice. One must not rely on it without receiving independent advice based on the particular facts of his/her own case. No responsibility can be accepted by the authors or the publishers for any loss occasioned by acting or refraining from acting on the basis of this publication.

Contact Person

 

​Yiota Michael

Senior Associate – Tax Department

tax@kinanis.com

 

OUR FIRM

We are a Law Firm with offices in Cyprus and Malta and a representative office in Shanghai China comprising of more than 80 lawyers, accountants and other professionals who advise, international and local clients.

The Firm has been offering legal and consulting services since 1983 evolving from a traditional law firm to an innovative cutting-edge multidisciplinary law firm combining exceptional expertise in law, tax, vat and accounting.

From its establishment the Firm’s focus has been heavily business oriented and always abreast with the latest global developments and innovations. Drawing from our pool of experienced professionals we provide our clients’ businesses full legal and accounting support on an everyday basis as well as customized solutions in today’s global financial and legal challenges.

We consider ourselves as ‘traditional pioneers’ and our motto is to foresee and anticipate any issues that may potentially impact our clients’ business and to offer effective advice and solutions proactively.

 

Kinanis LLC

Lawyers’ Limited Company
12 Egypt Street, 1097, Nicosia
P.O. Box 22303, 1520 Nicosia, Cyprus
Tel: + 357 22 55 88 88 – Fax: + 357 22 66 25 00
E-mail: KinanisLLC@kinanis.com – Web site: www.kinanis.com

 

Kinanis

Civil Partnership, Law Firm
Kinanis Fiduciaries Limited
Suite 20, The Penthouse, 4th Floor, Ewropa Business Centre,
Dun Karm Street, Birkirkara, BKR 9034, Malta
Tel: + 356 27 54 00 24, Fax: + 356 27 54 00 25
E-mail: malta@kinanis.com – Website: www.kinanis.com

 

Kinanis (China) Limited

China Representative Office
Unit 661, 6/F CIROS PLAZA,
388 Nanjing West Road, Huangpu District,
Shanghai City, 200003, China
Tel: + 86 18 410 072 690
E-mail: china@kinanis.com – Website: www.kinanis.com