Cyprus and Kazakhstan sign a Double Taxation Treaty

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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.