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 subsurface users and taxpayers subject to tax monitoring (monitoring of large taxpayers or horizontal monitoring).
- Ratification of the Multilateral Instrument by Kazakhstan and submission of ratification document by Kazakhstan to the Organisation for Economic Co-operation and Development (OECD).
In addition, the Parliament of Kazakhstan is reviewing a draft law on amendments to tax legislation, certain of which will have retrospective effect (e.g. amendments to current controlled foreign company [CFC] rules). Once the draft law is approved by the Parliament and signed by the President, WWTS content for Kazakhstan corporate tax will be amended accordingly.