According to an update from the National Bank of Kazakhstan, the base interest rate was increased from 16.0% to 16.75% with effect from 6 December 2022. This follows earlier increases in the rate from 14.0% to 14.5% on 26 July 2022 and to 16.0% on 27 October 2022.For tax purposes, the rate is important as it is used in determining late payment interest, which is calculated as 1.25 times the base rate, divided by 365 to determine the daily rate. The National Bank has also published the rate decision schedule for 2023, with the next rate decision to be made...