Swiss finance minister Hans-Rudolf Merz and his Kazakh counterpart, Bolat Zhamishev, have signed a protocol to amend the double taxation agreement (DTA) in the area of taxes on income and capital, in Astana.
The revised DTA contains provisions on the exchange of information in accordance with the Organization for Economic Cooperation and Development standard, which were negotiated in line with the parameters decided by the Swiss Federal Council.
Compared with the current DTA, dividend payments to occupational benefits schemes and to central banks will now be exempt from taxation at source.
The revised DTA also contains an arbitration clause. Moreover, Kazakhstan took Switzerland off its list of countries which provide an insufficient exchange of information for tax purposes. Companies with cross-border operations will thereby no longer incur unfavourable tax treatment.
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