According to recent reports, Kazakhstan has introduced a new provision in the Tax Code to clarify restrictions on the withholding tax exemption for dividends paid to non-resident individuals and companies. The clarification is made in relation to the restriction on the exemption where dividends are paid by companies enjoying corporate income tax exemptions. The restriction essentially provides that where the portion of corporate income tax that is exempted (reduced by 100%) is 50% or more of the corporate income tax calculated in general, then the exemption for dividends does not apply. The provision added to the Tax Code clarifies that...