The consultation ends on 14 August 2025.
Kazakhstan launched a public consultation on liquidity criteria for securities traded on its stock exchanges on 30 July 2025.
These criteria will determine eligibility for a tax exemption on dividends and interest starting 1 January 2026.
Under the New Tax Code, both resident and non-resident investors can benefit from the exemption if the securities meet specific liquidity requirements set by the government. These criteria vary by security type, including minimum transaction volumes and frequencies.
For most securities, the criteria include a monthly transaction volume of at least KZT 25 million, at least 50 transactions per month, and either an IPO or SPO placement or 10% free circulation of securities. Mutual fund units and debt securities have separate thresholds.
The consultation is open until 14 August 2025.