Kazakhstan needs agreements revision to avoid double taxation- expert

Date: 05:08, 20-05-2014.

Astana. May 20. KazTAG - Kazakhstan needs to hold agreements revision to avoid double taxation, said Asem Akkozha, chair of Kazakhstan Financial Integrity Center.

"An important task today is revision of all the agreements in order to avoid double taxation. We have agreements with different states which differ in principal moments. Agreements revision, analysis of results of their application will let us understand which measures are needed to correct international agreements and internal legislation," she said.

"Another direction- identification of work on agreements conclusion on exchange with tax information. The tax services of many states want to know the final beneficiaries of offshore accounts and companies, and Kazakhstan is not an exception. Application of bilateral agreements on cancellation of exchange with tax information with offshore zones will eventually make use of offshore jurisdictions non beneficial," she said.

According to some data, international experts evaluate withdrawn funds from Kazakhstan to offshore zones to $138 bln.

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