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By Trend

Kazakhstan’s President Nursultan Nazarbayev signed a law, which envisages the expansion of tax cooperation with Azerbaijan, the Kazakh media reported.

This a law on ratification of a protocol between the governments of Kazakhstan and Azerbaijan on making changes and additions to the convention between the two countries’ governments on avoidance of double taxation and prevention of tax evasion with respect to taxes on income and on property, dated Sept. 16, 1996.

The protocol will allow the development of cooperation between the tax services of both states by increasing the exchange of information and applying domestic legislation in the case of finding out the tax evasion and abuse of provisions of the convention.

Earlier, presenting the relevant bill in the parliament, Kazakh Finance Minister Bakhyt Sultanov said that the trade turnover between Kazakhstan and Azerbaijan amounted to $3.2 billion over the past 10 years.

Kazakhstan mainly exports wheat, oil products obtained from bituminous rocks and rolled iron. The structure of imports is dominated by sugar, hazelnuts. Investments from Azerbaijan to Kazakhstan totaled $168.7 million over the past 10 years.

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