Astana. December 20. Kazakhstan Today - The head of state, Nursultan Nazarbayev, signed the law on the ratification of the convention between the government of the Republic of Kazakhstan and the Republic of Armenia government on the avoidance of double taxation and the prevention of fiscal evasion with respect to income taxes, the agency reports citing the president's press service.

As informed earlier, the convention and its protocol were signed in Astana on November 6, 2006. The aim of the convention is strengthening and expansion of economic cooperation between Kazakhstan and Armenia by creation of favorable conditions for realization of activities of both Armenian investors in Kazakhstan and the Kazakhstan enterprises in Armenia, the conclusion of the Senate Committee for Finance and Budget stated.

The convention is the bilateral international contract and is aimed at elimination of double taxation. Each of the contracting states provides tax payers with the possibility to pay taxes only once - in one of the contracting states.

The convention guarantees relative stability of tax relations, prevents double taxation of incomes and by that will allow developing closer economic relations between two states.

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