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| Aleksandra Rafailovic |
The President of Kazakhstan signed a law ratifying the
treaty on October 14 2016 after the Senate approved the treaty
on September 30 2016. Serbia's National Assembly approved the
agreement in 2015.
This agreement applies to income tax, personal income tax
and property tax.
The withholding tax rates available under the treaty
are:
- Dividends: 10%/15% (the lower rate applies
if the dividend distributing company has at least 25%
participation);
- Interest: 10%; and
- Royalties: 10%.
The bilateral and economic relations between Serbia and
Kazakhstan are already at a very good level, with commodity
turnover between the two countries reaching $230 million in the
past 10 years ($56 million in 2015). Consequently, the double
tax treaty will be an important tool that is expected to
further facilitate and intensify cooperation.
Aleksandra Rafailovic (aleksandra.rafailovic@eurofast.eu)
Eurofast, Serbia Office
Tel: +381 11 3241 484
Website: www.eurofast.eu