Kazakhstan and Slovenia to sign double taxation treaty

Kazakhstan and Slovenia will sign an agreement of eliminate double taxation, Tengrinews.kz reports from the meeting of Kazakhstan-Slovenian intergovernment commission on trade and economic cooperation. “This double taxation treaty enable the companies working in both countries to avoid double taxation. Kazakhstan reviewed the document and held the in-state procedures on approval of the treaty and sent it to the Slovenian party. But we have to consider the fact that Slovenia is part of the European Union and they have much longer approval procedures,” Kazakhstan Helathcare Vice-Minister Bolat Takezhanov said on the sidelines of the meeting. Kazakhstan Healthcare Ministry was the one to organize the event. “During the meeting we agreed that we have to get all the approvals by the end of this year and prepare all the necessary drafts for signing. Kazakhstan President will probably visit Slovenia on an invitation of the Slovenian party next year. That’s when the agreement is expected to be signed,” Takezhanov added. Double taxation is the levying of tax by two or more jurisdictions on the same declared income (in the case of income taxes), asset (in the case of capital taxes), or financial transaction (in the case of sales taxes). This double liability is often mitigated by tax treaties between countries. By Altynai Zhumzhumina