Taxes - Accounting

Kazakhstan

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Tax Rates | Accounting Rules

Tax Rates

Consumption taxes

Nature of the tax: Value added tax.
Tax rate: 12%
Reduced tax rate: There are VAT exemptions, particularly for medical products, exports and financial transactions.
Other consumption taxes: Excise duties on all types of spirits, alcohols and tobacco products, petrol (except for aircraft), diesel fuel oil, and certain motor vehicles.

Corporate taxes

Tax rate

Income tax rate

20%

Capital gains taxation: Capital gains are treated as normal income and taxed at the standard corporate tax rate of 20%.
Main allowable deductions and tax credit: Allowable deductions generally include expenses associated with activities designed to generate income. Deductions for depreciation and depletion, net operating losses, payment to foreign associates, and certain taxes.
Other corporate taxes: Taxes on export of certain products (hides and skins, certain oil products,...), taxes on import of some products, real property tax, social security contributions, land tax, vehicle tax.

Individual taxes

Tax rate

Individual income is taxed at a flat rate

10%

Allowable deductions and tax credit: A list of possible individual tax deductions is available on the Tax Committee website.
Special expatriate tax regime: A non-resident having a trading activity in Kazakhstan is liable to pay income tax on Kazakh at source after deduction at a rate of 30%.

Double taxation treaties

Countries with whom a double taxation treaty have been signed: List of countries having a Double Taxation Agreement with Kazakhstan.
Withholding taxes: Dividends: 15%/20%, Interest: 15%/20%, Royalties: 15%/20%.
Bilateral agreement: Kazakhstan and Tunisia are bound by a double taxation treaty: no

Signed	Ratified	Enforced

Pour aller plus loin dans vos recherches nous vous proposons de connaître les taxes locales connaître les taxes locales qui s'appliquent à votre produit.

Sources of fiscal information

Tax Authorities: Customs; Tax Committee; Information portal on taxes
Other domestic resources: Information portal on taxes

Accounting Rules

Tax year: The financial year starts from 1st January and ends on 31st December of the same year.
Accounting standards: According to the new Law, large business entities and organizations of public interests must prepare financial reports in accordance with IFRS. Other legal entities and individual entrepreneurs, at their discretion, may prepare financial reports in accordance with either IFRS or the National Accounting Standards, which generally refer to IFRS.
Accounting regulation bodies: Ministry of Finance
Accounting reports: The accounting balance sheet is presented with shareholder capital and debts as liability, the latter will be broken down into long term and short term debts.
The income statement gives the priority to the referential of total production and classification of expenses per function.
(Russian model).
Publication requirements: The law pertaining to companies in the Republic of Kazakhstan encourages companies to post up the operational accounts. The accounts should be established in national currency according to the new Russian accounting plan introduced in January 1992. Accounting should be held as per the standards in force but the companies do not have any obligations for the annual reports, except for financial reports.
Professional accountancy bodies: Chamber of Auditors of the Republic of Kazakhstan
Ministry of Finance gives a list of audit bodies
Certification and auditing: There is no formal obligation for the audit, except for registration of daily activity. However, the rights, obligations and qualifications of auditors tend to be more and more specific and subjected to laws and regulations. Certain companies must undergo an annual statutory audit (banks, insurance companies, pension funds, and other financial institutions, joint stock companies, and companies operating under an investment contract concluded with the State). An audit company of their choice can perform this audit. Sometimes, however, it may be required that a statutory audit is performed by a Big 4 audit firm.
You can contact an external auditor: Deloitte, Ernst & Young, PricewaterhouseCoopers, KPMG.
Accounting news: IAS Plus
Website of the Ministry of Finance
Information portal on accounting sector