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Senate ratifies Kazakh-Russian agreement on mutual recognition of taxpayers residence

by October 27, 2016 General

The Senate of Kazakh Parliament has adopted the Law On Ratification of the Agreement by exchange of notes on the procedure for recognition of official documents confirming residency issued by the competent authorities of the Republic of Kazakhstan and the Russian Federation in the framework of the Convention between the Government of the Republic of Kazakhstan and the Government of the Russian Federation on avoidance of double taxation and prevention of tax evasion on income and capital at the Plenary Session.

Today, under the current legislation, each taxpayer provides a certificate for confirmation, and then an apostil is required, which verifies the signature is legitimate.

The volume of Russian investment in Kazakhstan amounted to $19 billion over the past 10 years, while Kazakh-Russian trade turnover amounted to $30 billion only in 2014-2015. In this regard, taking into consideration close ties between Kazakhstan and Russia, taxpayers proposed to move away from apostil relations between the Russian Federation and the Republic of Kazakhstan, Minister of Finance Bakhyt Sultanov said introducing the draft law.

As per the agreement, the non-apostilled certificates of Russias resident taxpayers issued after 2011 should be accepted by the tax authorities of Kazakhstan with no restrictions. The Russian tax authorities will apply the same procedure for receiving the documents of Kazakh taxpayers.

Source: Government of the Republic of Kazakhstan