Archive for July, 2019

Cyprus Signs a New Tax Treaty with Kazakhstan for the Avoidance of Double Taxation

The Republic of Cyprus has concluded a new Double Tax Treaty with the Republic of Kazakhstan. The treaty was signed on the 15th of May 2019. The actual publication of the treaty in the official Gazette of the Republic of Cyprus took place on the 24th of May 2019.

The new treaty shall enter into force upon both the Republic of Cyprus and The Republic of Kazakhstan exchanging notifications that the formal ratification procedures have been completed. The provisions of the treaty with respect to taxes will have effect on or after 1 January post ratification.

The new treaty is based on the Organisation for Economic Co-operation and Development (OECD) Model Tax Convention framework, and will contribute to the expansion of trade and economic relations between the two countries.

The preamble to the double tax treaty refers to avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.

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