Kazakhstan's lower house of parliament approved the pending income tax treaty with Serbia on 14 September 2016. The treaty, signed 28 August 2015, is the first of its kind between the two countries and provides for the following withholding tax rates:
- Dividends - 10% if the beneficial owner is a company directly holding at least 25% of the paying company's capital; otherwise 15%
- Interest - 10%
- Royalties - 10%
The treaty will enter into force once the ratification instruments are exchanged,…