The National Bank of Kazakhstan, or Kazakhstan’s central bank, announced that it had reduced the annual base interest rate from 15.75% to 15.25%. The new base interest rate will be effective from 22 January 2024. The interest rate holds significance for tax purposes, as it is utilized to calculate late payment interest. Previously, the rate was reduced from 16.00% to 15.75% as of 27 November 2023. Before this, the rate was reduced from 16.50% to 16% as of 9 October 2023.