Kazahkstan And Luxembourg To Sign Double Tax Treaty

by Tatiana Smolenskaya, Tax-News.com, Moscow

18 July 2008

The governments of Kazakhstan and Luxembourg will soon sign an agreement for the avoidance of double taxation, it emerged from Luxembourg Prime Minster Jean-Claude Juncker's recent visit to the central Asian nation.

Following his talks with Kazak Prime Minister Karim Massimov in Astana recently, Juncker declared that “Kazakhstan is a strategic partner for the EU and a privileged partner for Luxembourg.”

"At the briefing, both Prime Ministers expressed readiness to increase the bilateral trade turnover," a statement issued by the Kazak government announced.

"Thus, in the course of the visit the sides are expected to sign a double tax treaty and discuss possible signing of an agreement to cooperate in air traffic realm," the statement added.

Luxembourg, one of Europe's largest financial centres, has also agreed to help develop the Kazak financial sector by training local bankers and financiers.

“I am confident that the established contacts will serve a solid foundation to further develop [bilateral] ties," said Juncker, who noted that he was being accompanied by an “imposing delegation” comprising economists, representatives of the Chamber of Commerce and Industry and businessmen.

Kazakhstan recently added Slovakia to its expanding double tax treaty network, and the government has issued a decree concerning the draft law on ratification of a double taxation agreement with Armenia.

Recommended