Tax NewsFlash - April 2024

Dear Readers,

The Government introduced amendments¹ to the criteria for securities trading on stock exchanges in Kazakhstan, which apply for the income tax exemption of dividends and interests on the securities listed on the stock exchanges.

The resolution introduced separate criteria for trading shares of mutual investment funds and debt securities.

The following criteria which must be met simultaneously are established for trading shares of mutual investment funds:

1. The volume of transactions is at least 20 million tenge per calendar month;
2. The number of transactions is at least 10 transactions per calendar month.

For trading debt securities, the resolution sets a minimum volume of placed through open auction and circulating debt securities within a single issuance to be at least one billion tenge.

The trading criteria for other securities remain unchanged. The following criteria must be met simultaneously for executed transactions with securities:

1. The volume of transactions with securities is at least 25 million tenge per calendar month;
2. The number of transactions with securities is at least 50 transactions per calendar month.

The Kazakhstan Stock Exchange and Astana International Financial Centre Exchange publish on their websites information on securities meeting the established criteria, by the 15th day of the month following the reporting quarter.

The revised version of the resolution came into force on 7 April 2024 and applies to transactions from 1 January 2024.