Kazakhstan

Corporate - Significant developments

Last reviewed - 23 July 2021

On 24 June 2021, the President of Kazakhstan signed a law introducing the following significant developments in the Kazakhstan Tax Code:

  • Introduction of a tax underpayment threshold at 6 Monthly Calculation Indices (MCI; starting from 1 January 2021, 1 MCI = 2,917 Kazakhstan tenge [KZT]) below which the tax authorities should not suspend debit bank operations on a taxpayer's bank account - from 1 July 2021;
  • Introduction of a tax on cryptocurrency mining activity from 2022;
  • Extension of additional input VAT offset (70%) to newly registered businesses operating in manufacturing industry (expect for metallurgy and production of excise goods) on sales of products which meet sufficient processing criteria and are confirmed by a certificate of origin in accordance with Kazakhstan legislation - from 1 July 2021;
  • Introduction of a special tax regime using a mobile application for individual entrepreneurs engaging in certain types of activities from 2022;
  • other amendments