Lower House of Parliament ratifies tax deal with Vietnam

ASTANA. KAZINFORM - At today's plenary session Majilis has approved the draft law "On ratification of the Agreement between the Government of the Republic of Kazakhstan and the Government of the Socialist Republic of Vietnam for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income".

"The purpose of the Agreement is to strengthen and expand economic cooperation between Kazakhstan and Vietnam by creating favorable conditions for investment. The document envisages the avoidance of double taxation for businesses and individuals of both Kazakhstan and Vietnam," said Finance Minister Bakhyt Sultanov, presenting the bill. According to his words, the agreement also stipulates exchange of information between the tax agencies of Kazakhstan and Vietnam.