Kazakhstan

Corporate - Significant developments

Last reviewed - 26 January 2021

The following significant developments became effective in 2020:

  • Introduction of a three-year statute of limitations period for tax purposes in Kazakhstan (the five-year statute of limitations is still effective for (i) subsurface users, (ii) taxpayers subject to tax monitoring (monitoring of large taxpayers or horizontal monitoring) and (iii) for taxpayers owning or controlling controlled foreign companies.
  • Ratification of the Multilateral Instrument by Kazakhstan and submission of ratification document by Kazakhstan to the Organisation for Economic Co-operation and Development (OECD).
  • Implementation of the Pilot project on administration of taxpayers importing goods into the EAEU customs territory with the application of a risk management system starting from 3 November 2020.

In addition, on 10 December 2020, the President of Kazakhstan signed a law on amendments to tax legislation, where certain amendments have retrospective effect (e.g. amendments to current controlled foreign company [CFC] rules).