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Kazakhstan Updates New Draft Tax Code Including New Corporate Income Tax Rates for Certain Sectors and Revised Withholding Tax Rates

08 August 2024

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Proposed Changes

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Kazakhstan

Kazakhstan's Ministry of National Economy has published an updated draft of the country's new Tax Code. Some of the main changes in the latest draft include: The introduction of the following sector-specific corporate tax rates, with the 20% rate maintained for other taxpayers: 25% for banks and gambling entities; 10% for companies performing manufacturing activities; and 3% to 6% for agricultural producers; The following changes to non-resident withholding tax: the introduction of a new 5% withholding tax rate on dividends paid to non-resident investors holding at least 25% of the shares in resident companies; the elimination of the 10% withholding...