Cyprus Signs Double Tax Treaty with Kazakhstan
This week, Cyprus and Kazakhstan have officially signed and concluded the terms of their double taxation agreement. The DTT provides a standard tax rate for cross-border interest, including defining the treatment of capital gains tax (CGT); and the following other types of income:
- Dividend income.
- Royalty income.
- Withholding tax.
The treaty will also better regulate the exchange of bank account information between the two countries that is specified as per the OECD Model Tax Convention on Income & Capital.