Kazakhstan Updates New Draft Tax Code Including New Corporate Income Tax Rates for Certain Sectors and Revised Withholding Tax Rates

Kazakhstan's Ministry of National Economy has published an updated draft of the country's new Tax Code. Some of the main changes in the latest draft include:

• The introduction of the following sector-specific corporate tax rates, with the 20% rate maintained for other taxpayers:
  • 25% for banks and gambling entities;
  • 10% for companies performing manufacturing activities; and
  • 3% to 6% for agricultural producers;
• The following changes to non-resident withholding tax:
  • the introduction of a new 5…