Convention for double taxation avoidance between Kazakhstan, UAE ratified

ASTANA. June 26. KAZINFORM Majilis, the lower chamber of the Kazakh Parliament, has approved the bill "On ratification of the Convention between the Government of the Republic of Kazakhstan and the Government of the United Arab Emirates for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income" at a plenary session in Astana today.

The Convention envisages that resident of one contracting state deriving income from the other contracting state may be taxed whether in the source state of income or in the country of residence.

In line with Article 5 of the Convention, for the avoidance of double taxation, resident of one contracting state deriving income from the other contracting state will be credited against tax in the source state.