OREANDA-NEWS. December 10, 2014. At a meeting of the Committee on Finance and Budget of the Senate discussed the draft law "On ratification of Convention on Mutual Administrative Assistance in tax matters amended by the Protocol on amending the Convention on Mutual Administrative Assistance in tax matters."

According to Vice Finance Minister Ardak Tengebayev the Convention was performed at Strasbourg on 25 January 1988 by the Council of Europe and the Organization for Economic Cooperation and Development.

"The Convention allows to arrange very clear exchange of information, to conduct joint inspections with our colleagues from other countries. Also there will be a possibility of recovery of the debts, that branches of foreign companies have, which are located in Kazakhstan, and which, unfortunately, did not pay this debt," A.Tengebaev said to journalists.

The Vice-Minister also said that 134 branches of foreign companies are owed about 6 billion tenge in Kazakhstan. After the ratification of the Convention it will be able to contact the tax authorities of other countries, and get help from them to recover these debts.