Following the recommendations of the Organisation for Economic Cooperation and Development (OECD), the new Tax Code enhanced and detalized the procedure for taxation of foreign companies controlled by Kazakhstan residents. For these purposes, the Tax Code introduced definitions of a controlled foreign company (CFC), CFC’s permanent establishment (CFC PE), direct, indirect and constructive control or possession, immediate family members, and effective income tax rate. Please read more about CFC in this special issue of KPMG Tax NewsFlash.