24.06.2020. The Republic of Kazakhstan has submitted to the OECD Depository a document on ratification of the Multilateral Convention on countering the erosion of the tax base and the withdrawal of profits from taxation.

As you know, the Ministry of Finance of the Republic of Kazakhstan is working on the implementation of the OECD standards in the framework of the BEPS project. One of the mandatory steps is to join the Multilateral Convention on countering the erosion of the tax base and the withdrawal of profits from taxation.

The Republic of Kazakhstan ratified this Convention on 20.02.2020.

To date, of the 94 countries that have signed the Multilateral Convention, 48 countries have submitted a ratification document. Of the countries with which the Republic of Kazakhstan has concluded tax conventions, 25 countries have ratified the Multilateral Convention.

According to article 34 of the Multilateral Convention, the Multilateral Convention enters into force three calendar months after the date of Deposit of the instrument of ratification. In this regard, for Kazakhstan, the date of entry into force of this document is October 1, 2020.

In accordance with article 35 of the Multilateral Convention on withholding tax, changes will be made to the tax conventions from 1 January of the year following the entry into force of the Multilateral Convention.