Switzerland has announced that the tax treaty protocol with Kazakhstan has entered into force. The protocol makes several adjustments in wording, including the articles concerning mutual agreement procedures and exchange of information, as well as changes in the article on dividends. The tax treatment of interest and royalties will remain unchanged. Dividends will be exempt if paid to a qualifying pension fund or other similar institution providing pension schemes. The withholding rates are 5% when the beneficial owner is a company, otherwise 15%. The protocol will apply from January 1st 2015.