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Air Astana to expand network thanks to Kazakhstan-Ireland convention

26 December 2017 12:27

ASTANA. KAZINFORM The recently signed convention with Ireland on the avoidance of double taxation shall facilitate the expansion of Kazakhstani flag carrier's route network. This was announced by the country's Deputy Minister of Finance Kanat Bayedilov during the meeting of the Finance and Budget Committee of the Senate today, Kazinform correspondent reports.

The meeting discussed the draft law On ratification of the Convention between the Government of the Republic of Kazakhstan and the Government of Ireland on avoiding double taxation and preventing tax evasion with respect to income taxes and the Protocol to it.

In his speech, the Deputy Minister stressed that the Republic of Kazakhstan plans to conclude such conventions with all members of the Organization for Economic Cooperation and Development.

According to him, the convention will facilitate Air Astana's plans to expand its route network and aircraft fleet through partnerships with Irish enterprises, that correspond with President Nazarbayev's instruction to establish direct air links with major cities of the world within 7 hours flight from Kazakhstan.

Mr. Bayedilov also emphasized that Ireland is a leading world center for aircraft leasing and has a number of specialized training centers and that the convention should positively affect the development of airline business in Kazakhstan.

In conclusion, Deputy Minister Bayedilov said that in 2018 the Republic of Kazakhstan plans to conclude similar conventions with Indonesia, Israel, and amend the existing one with Great Britain, due to changes in the tax legislation of Kazakhstan.

As previously reported, the Convention with Ireland makes it possible to avoid double taxation of legal entities as well as individuals' incomes and opens up an opportunity for strengthening and expanding economic cooperation between Kazakhstan and Ireland by creating favorable conditions for investment. The exchange of information on tax issues within the framework of the Convention shall also help in preventing tax evasion.

Certain articles of the Convention stipulate the procedure for taxing the incomes of artists, athletes, public servants and students who operate in the contracting states.