No need to pay taxes twice

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The Convention approved by the Mazhilis, specified types of taxes covered by the document

Kazakhstan and Slovenia agree on avoidance of double taxation - Today at the plenary session of the Mazhilis the deputies approved the Convention with a long name "On ratification of the Convention between the Government of the Republic of Kazakhstan and the Government of the Republic of Slovenia for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and on capital and Protocol to it".

Action of the document spreads on legal and physical persons, who are residents of one or both of the Contracting States. The Convention shall apply to taxes on income and on capital imposed on behalf of the State or its territorial-administrative units, central or local authorities, irrespective of the manner in which they are levied. The draft law proposed to consider taxes on income and on capital all taxes imposed on total income, on total capital, or on elements of income and capital, including taxes on gains from the alienation of movable or immovable property. In addition, it is proposed to consider taxes on taxes on the total amounts of wages or salaries paid by enterprises, as well as taxes on capital appreciation.

The existing taxes in Kazakhstan, which are covered by the Convention, include corporate income tax, individual income tax, property tax for individuals and entities. In Slovenia, according to the draft law, it is proposed to pay taxes on the income of legal entities and individuals, as well as property tax.

"In accordance with the Convention dividends, interest and royalties may be taxed in the state of origin of income. Other state gives him credit on the amount of tax paid or excludes from taxable gross income the portion the tax, which has already been applied in another country ", - added the Minister of Finance.

As a result, Mazhilismen unanimously ratified the Convention. Slovenia already gave legal effect to the document.

According to Bakhyt Sultanov, the trade turnover between Kazakhstan and Slovenia in the last 10 years amounted to 1.023 million USD, in 2015 it amounted 93,100,000 million USD. The main article of Kazakhstani export is ferrochrome, ferrosilicon. The import structure is dominated by drugs, metal of iron or steel. Investments from Slovenia to the Republic of Kazakhstan in the last 10 years amounted to 15.8 million USD, including 4.2 million USD in 2015.

Zhanar Serdalina