The double tax treaty between the Government of the Republic of Serbia and the Government of the Republic of Kazakhstan on the avoidance of double taxation and prevention of tax evasion, signed on 28 August 2015 in Astana, has been approved through diplomatic channels by both parties.
The National Assembly of the Republic of Serbia approved the Agreement in 2015. The Senate of Kazakhstan approved the treaty on 30 September 2016, while on 14 October 2016 the President of Kazakhstan signed a law ratifying the treaty.
This agreement applies to income tax, personal income tax and property tax.
The withholding tax rates that are provided for by this treaty are:
-Dividends: 10/15 % (the lower rate applies in case of at least 25% participation in the dividend distributing company)
The bilateral and economic relations between Serbia and Kazakhstan are already at a very good level, with commodity turnover between the two countries reaching $230mln in the past 10 years ($56mln in 2015). Consequently, the double tax treaty will be an important tool which is expected to further facilitate and intensify cooperation.
Aleksandra Rafailovic, Senior Tax Advisor
+381 11 3241 484