Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf and Minister of Finance of Kazakhstan Zhamishefu signed here today an agreement between the Government of the Kingdom of Saudi Arabia and the Government of the Republic of Kazakhstan for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income. Dr. Al-Assaf that this agreement is a stable legal framework defines the tax relations between the two countries. He called on businessmen in both countries to benefit from what the agreement provides of the advantages of tax cuts for the establishment of more joint investment projects. The Kingdom's Finance Minister also pointed out that the volume of trade exchange between Saudi Arabia and Kazakhstan grows steadily from about 141.5 million riyals in 2000 to more than 403.5 million riyals in 2010.
