The National Bank of Kazakhstan has reduced its benchmark interest level to 17.0%, affecting the calculation of late payment interest for tax purposes after maintaining the benchmark unchanged in its previous three policy decisions.
The National Bank of Kazakhstan has lowered the base rate from 18.0% to 17.0%, effective 8 June 2026, according to an official update. The move follows a period of rate stability throughout the first part of 2026 and reverses part of the increase implemented in October 2025, when the rate was raised from 16.5% to 18.0%.
For tax purposes, the base rate is used to calculate late payment interest. Under the applicable rules, late payment interest is determined at 1.25 times the base rate, with the resulting figure divided by 365 to establish the daily rate.
The National Bank’s 2026 decision schedule shows that the base rate was maintained at 18.0% on 26 January, 10 March and 27 April, each time with a corridor of 17.0% to 19.0%. On 8 June, the Bank reduced the rate to 17.0% and adjusted the corridor to 16.0% to 18.0%.
Further base rate announcements are scheduled for 24 July, 4 September, 23 October and 4 December 2026.
The Bank’s historical decision schedule also notes that, from 1 January 2021, the term “official refinancing rate” was replaced by “base rate” under Kazakhstani legislation adopted as part of measures supporting economic recovery and growth. The published archive contains base rate decisions dating back to 2015.
