Kazakhstan: Consultation on proposed amendments to new Tax Code

The Ministry of National Economy published a consultation paper on proposed amendments to the new Tax Code to fix gaps, reduce the burden on businesses, and improve Kazakhstan’s investment climate.

The proposed amendments include:

Corporate income tax

• Allow taxpayers to deduct expenses incurred for mandatory product marking
• Exclude from nonresidents’ taxable income outstanding advance payments related to major long-term investment projects until the corresponding contractual obligations are fulfilled (Article 679 of the Tax Code)

VAT and excise tax

• Exempt from VAT factoring and forfaiting transactions carried out by second-tier banks
• Exempt from VAT imports of raw materials used under investment contracts
• Allow subsoil users to claim input VAT on goods acquired under contracts for complex offshore hydrocarbon production projects and transferred to the state for defense purposes
• Exempt from VAT air navigation services provided in connection with international air transportation
• Exempt from excise tax exports of energy drinks produced from tolling raw materials

Measures to improve investment climate and tax administration

• Reinstate tax incentives in effect before January 1, 2026, for organizations implementing priority investment projects
• Repeal the fee for issuing tax residency certificates to investment residents of the Astana International Financial Centre

The consultation remains open until July 30, 2026.

Read a July 2026 report prepared by the KPMG member firm in Kazakhstan