Kazakhstan And Oman To Abolish Double Taxation For Businesses
AI-generated illustration
Kazakhstan and Oman plan to abolish double taxation for businesses and investors, Orda.kz reports.
Senator Sultanbek Makezhanov announced the measure during a Senate meeting. According to him, the law should simplify tax conditions for companies and citizens of both countries.
The main purpose of the law is to strengthen and expand economic cooperation between Kazakhstan and Oman, as well as create favorable investment conditions by eliminating double taxation of income for individuals and legal entities of the two countries,Makezhanov said.
He added that the law will also help counter tax evasion.
The law will expand the legal framework between Kazakhstan and Oman, help eliminate double taxation, and ensure compliance with international standards in combating tax evasion,Makezhanov said.
The agreement covers tax residency, rules for permanent establishments of companies, distribution of taxable income, including dividends, interest, royalties, and business income, mechanisms for exchanging tax information, and measures against tax evasion.
The Senate approved the law ratifying the agreement between Kazakhstan and Oman on avoiding double taxation and preventing tax evasion on income and capital in the first reading.
Original author: Alina Elgeldina
Read also:
Latest news
- Environmental Crimes Cost Kazakhstan 3 Billion Tenge In Four Months
- Kazakhstan To Borrow $1 Billion To Support Priority Areas Of Economy
- Kazakhstan Ratifies CSTO Protocol To Speed Up Troop Transit During Crises
- Kazakh Citizen Detained In U.S. Over Alleged Terrorism Concerns
- Tokayev Calls For Modernization Of Kazakhstan’s Space Industry
- Kazakhstan And Iran Move To Expand Key Transit Routes
- Where Do The Trillions Go? Kazakhstan Lawmakers Demand Tighter Oversight Of Energy Sector
- Kazakhstan And Czech Police Dismantle Personal Data Trafficking Network
- Kazakhstan To Expand Average Speed Checks On Toll Roads In 2026
- U.S. Police Confirm Death Of Missing 24-Year-Old Kazakh Man
- Rare Canadian Lynxes From U.S. Arrive At Almaty Zoo
- IMF Urges Kazakhstan To Stay The Course On Inflation
- Kazakh Refinery Could Lose Russian Supplies After Drone Attack
- Kazakhstan Trains To Get Satellite Internet On Major Routes
- Locust Invasion Alarms Residents In Mangistau Region
- Kazakhstan’s Rail Fleet Remains Heavily Worn Despite Modernization
- Kazakhstanis Will See Who Requested Their Data Through eGov
- Mangistau Hospitals Face Antidote Shortage As Karakurt Bites Rise
- Kazakhstan Sees Afghanistan as Key Regional Link
- US Authorities Find Body Believed To Be Kazakhstani Citizen
