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Cyprus and Kazakhstan sign a Double Taxation Treaty

May 2019 - Finance. Legal Developments by Stelios Americanos & Co.

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On the 15th of May 2019 the Cyprus Minister of Foreign Affairs Mr Nicos Christodoulides and the First Deputy Prime Minister and Minister of Finance of Kazakhstan Mr. Alikhan Smailov has signed the new Double Taxation and the Prevention of Fiscal Evasion treaty between the respective countries.

The importance of the agreement was emphasized by both countries, as Cyprus, being a prominent financial centre, is considered as a getaway to Europe for foreign investments through its attractive holding company regime, favourable tax and legal system as well as fund registration and management. Likewise Kazakhstan being in the heart of Eurasia offers great opportunities both internally and the rapidly developing neighbouring region.

The treaty abides by the new OECD Model guidelines.

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