The President of Kazakhstan has signed Law No. 269 on 29th December 2014 for announcing the following Tax Code amendments that became effective from 1st January 2015.
Corporate income tax
- Costs of deductible training paid by a company for an individual who is wished to enter into an employment agreement with the company will contain traveling costs incurred in the training course.
- Costs of training are not deductible if the employment agreement is not finished on or before 3 months following the training or this concluded agreement is terminated on or before 3 years following the training.
Tax management
- Banks are needed to give information regarding the information on bank account balances, cash-flows of companies and individual entrepreneurs to tax authorities if such taxpayers fail to pay taxes due within 4 months and the tax amount crosses 10,000 times the Monthly Calculation Index (MCI) The MCI for the year 2015 is KZT 1,982.
- This new law announces new rules on the tax liability accomplishment for particular types of taxpayer whose yearly income does not crossed 60,000 times the MCI and are company resident in the process of a liquidation or individual entrepreneurs terminating their activities.
