Kazakhstan, US to share information about citizens’ foreign accounts

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ASTANA. KAZINFORM The Minister of Finance of Kazakhstan, Bakhyt Sultanov, and US Ambassador to Kazakhstan George A. Kroll have signed an agreement to improve international tax compliance, Kazinform correspondent reports.

According to the head of the Kazakh finance ministry, the document was signed after a long and painstaking work. Within the agreement, the sides will exchange information about persons, who avoid paying taxes, and their accounts.

"This work started a few years ago on the initiative of the United States. And today, we are signing a special agreement. In return, Kazakhstan will provide the US with information on the accounts of the country's citizens working in Kazakhstan. We will receive such information too," Bakhyt Sultanov said.
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As for George Kroll, he thanked the Kazakh side for cooperation, noting that this work in the US is carried out in accordance with the legislation related to foreign account taxation. "And, exchanging information, we will be able to effectively fight any attempts to avoid paying taxes by using offshore accounts," he added.

 

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