Kazakhstan Tax Code Amendments Approved Including VAT, Loan Taxation, and other Changes

On 30 November 2016, Kazakhstan President Nursultan Nazarbayev reportedly signed legislation approved by the Senate on 17 November that introduces amendments to the Tax Code regarding taxation and customs administration. Some of the main amendments include:

• A reduction in the value added tax (VAT) registration threshold as follows:
  • 30,000 MCI for 2017 maintained (MCI - monthly calculation index = KZT 2,269 in 2017);
  • 25,000 MCI from 1 January 2018;
  • 20,000  MCI from 1 January 2019; a…