DTT Protocol with Kazakhstan enters into Force

UniCredit Bank Czech Republic and Slovakia,a.s.
Summary: 
The DTT Protocol on avoiding double taxation with Kazakhstan has entered into force
Tue, 12/07/2016

The Protocol to the DTT between Czech Republic and Kazakhstan, signed in Astana on 24 November 2014, entered into force on 28 June 2016, in accordance with the conditions laid out in Article 15 of the Protocol, and amending the Treaty between the Czech Republic and the Republic of Kazakhstan on avoiding double taxation and preventing fiscal evasion with respect to taxes on income and capital (originally signed in Almaty on 9 April 1998).

The provisions of the Protocol, which form an integral part of the Agreement, will be implemented as follows:

  • in respect of taxes withheld at source on income paid or credited from 1 January 2017 or later
  • in respect of other taxes levied for each tax period beginning on 1 January 2017 or later
  • in reference to Article 13 of the Protocol regarding on the exchange of information, to request made as of 28 June 2016 or later

The text of the Protocol is yet to be published in the official collection of International Treaties.

Impact on investors:  The Protocol to the DTT between Czech Republic and Kazakhstan has introduced a new tax regime applicable to eligible investors from the two countries