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Kazakhstan Developing New Tax Code Including Differentiated Tax Rates for Different Sectors

08 September 2022

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Proposed Changes

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Kazakhstan

Kazakhstan President Kassym-Jomart Tokayev delivered an address on 1 September 2022 on the government's plans in various areas, including economic policy, specific sector development, strategic investment, and others. As part of the economic policy, President Tokayev announced that a new revised tax code will be developed in 2023. Although specific details are not provided, it is noted that the new tax code will include: A complete update of the provisions for tax administration; A move towards differentiated tax rates for different sectors of the economy; The introduction of a tax reduction or exemption mechanism for profits invested in technological modernization...