Kazakh Finance Ministry and Swiss Federal Council sign protocol on double taxation avoidance


Kazakh Finance Ministry and Swiss Federal Council sign protocol on double taxation avoidanceKazakh Minister of Finance Bolat Zhamishev and head of the Swiss Federal Department of Finance Hans-Rudolf Merz has met in the Ministry of Finance in Astana today; the Ministry’s press service reports.

There was signed a Protocol between the Government of Kazakhstan and the Swiss Federal Council on double taxation avoidance and a Memorandum of mutual understanding and cooperation in the Bretton Woods Institutions.

Signing of the Protocol on double taxation avoidance is aimed at ensuring stable tax relations, double taxation elimination, information exchange, investment climate improvement and tuning up of closer economic ties between the two states.

“Kazakhstan is the second after Russia partner on the volumes of foreign trade for Switzerland. 37 joint Kazakh-Swiss enterprises function in Kazakhstan”, B.Zhamishev said.

Hans-Rudolf Merz, in his turn, noted necessity of this meeting for both countries. “Kazakhstan is one of the important partners of Switzerland among the Central Asian states”, he resumed.


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Kazakhstan joins Swiss IMF constituency

Sept 3. swissinfo

Kazakhstan is to join the Swiss constituency in the International Monetary Fund (IMF) and World Bank.

The agreement was reached on Friday when Swiss Finance Minister Hans-Rudolf Merz and his Kazakh counterpart, Bolat Zhamishev, initialled a Memorandum of Understanding.

Merz and Zhamishev also signed a revised double taxation agreement (DTA) during their meeting on Friday in the Kazakh capital Astana.

The Memorandum of Understanding governs the cooperation between the two countries in the Swiss constituency in the IMF and World Bank.

Switzerland has wanted Kazakhstan to join the Swiss constituency, which already includes Azerbaijan, Kyrgyzstan, Poland, Serbia, Tajikistan, Turkmenistan and Uzbekistan.

In a statement, the Swiss finance ministry said Kazakhstan’s membership would “strengthen the constituency’s position in the governance reform under way in the Bretton Woods Institutions [IMF and World Bank]”.