10.02.2022, 12:10 25991

Information about accounts of Kazakhstanis in the USA will be available

The Senate at the plenary session ratified the Agreement between the Government of the Republic of Kazakhstan and the Government of the United States of America on the improvement of international tax discipline.
The Senate at the plenary session ratified the Agreement between the Government of the Republic of Kazakhstan and the Government of the United States of America on the improvement of international tax discipline, Kazpravda.kz correspondent reports.
 
As noted earlier, all foreign financial institutions that do international business with US financial institutions are required by law to report US taxpayer account information.
 
The document affects the activities of financial institutions, including credit institutions, insurance, brokerage and other similar companies. If one does not join this regime, 30% of the transfer amount may be withheld from international bank transfers if the recipient of the payment is a US taxable person, and the funds transferred are income related to investments in the US.
 
Financial institutions that have acceded to the Agreement will be required to identify and disclose information about all US individuals and legal entities that have opened accounts in Kazakhstan.
 
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