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Tax Incentives in Kazakhstan

Published
June 20, 2024
Nazym Argynbay
Senior Associate
Anel Alzhanova
Associate

Our clients are often interested in registering in special jurisdictions in Kazakhstan, where companies are entitled to apply significant tax incentives. Today we would like to briefly introduce you such jurisdictions:

Astana International Financial Centre (AIFC)1

AIFC was established to create an attractive environment for investors engaged in financial services, to develop the stock market and promote other financial instruments. Accordingly, most of the AIFC tax incentives apply specifically to the companies providing financial services. For example, such companies are exempt from value-added tax (VAT), corporate income tax (CIT), personal income tax (PIT), property tax and land tax exemptions subject to fulfilment of the established criteria. Taxation in other cases is subject to the general requirements of Kazakhstan tax laws.

Special Economic Zones (SEZ)2

SEZ is defined as a part of Kazakhstan's territory with precise geographic borders and special legal regime applicable to certain priority activities.

Currently, there are 14 SEZs operating in Kazakhstan. The priority activities for each SEZ differ from each other and depend on the objectives for the creation of such SEZs. For example, one of the objectives for SEZ "Park of Innovative Technologies" (PoIT), located in Almaty, is the development of IT industry; while for SEZ “TURAN”, located in Turkistan region, increasing the tourist potential of Turkistan city.

Entities operating in SEZs can reduce a calculated CIT, property tax, land tax and land use down to 100%. In addition, sales of certain goods within SEZ territory are subject to a zero VAT rate if certain conditions are met. Separately, participants of SEZ "PoIT" also have the possibility of a 100% reduction of a calculated social tax.

International Technology Park of IT startups «Astana Hub» (Astana Hub)3

Astana Hub is an international technology park of IT startups, which aims to develop the technology sector by promoting innovative projects. For participants of Astana Hub, tax incentives such as 100% reduction of CIT, 0% of PIT, VAT and social tax are provided.

Information contained in this Client Update is general and cannot be used as legal advice or recommendation. Please note that Kazakhstan is an emerging economy, and its legislation and legal system are in constant development. Should you have any questions or want to discuss matters addressed in this Client Update, please contact us.

  1. Constitutional Statute of the Republic of Kazakhstan “On the Astana International Financial Centre”.
  2. The Law of the Republic of Kazakhstan “On Special Economic and Industrial Zones”.
  3. Order of the Minister of Information and Communications of the Republic of Kazakhstan “On Approval of the Rules of Activities of the International Technology Park of IT startups «Astana Hub»”.
Publications
Tax Incentives in Kazakhstan
June 20, 2024