Changes in the Tax Code of Kazakhstan 2021-2022 - FChain

The Law of June 24, 2021 No. 53-VII “On Amendments and Additions to the Code of the Republic of Kazakhstan adopted in Kazakhstan

We have analyzed all the changes and glad to present to your attention the key innovations in the Tax Code.

1. Taxpayers have a right to switch into special taxation system using a special mobile application from the following tax regimes:

• generally established taxation regime
• special tax regime based on patent
• special tax regime for peasant or farm households

For switching to this regime, a taxpayer must meet certain conditions. More details about these conditions we will publish in an additional article in September, do not miss it

2. Blocking of bank accounts for tax debts over 6 MCI:

• The rule came into force on July 1, 2021. Previously, the Tax Code of the Republic of Kazakhstan did not specify a limit for the suspension of account transactions.

Size of one MCI in 2021 is 2917 tenge; the MCI will be increased to 3063 tenge from January 2022

3. The employer’s expenses related to the Covid-19 survey are not considered as employee income from July 1, 2021.

4. A fiscal receipt must contain the buyer’s identification number for a transaction over 1000 MCI. 

5. Amendments to the Electronic Invoice-Proforma standards have been adopted in order to:

• exclude the statement of the electronic invoice when selling goods to the end consumer, if he is provided with an online cash register receipt;
• provide a right not to issue an invoice upon sale to the end consumer;
• to assign for buyers-business entities the right to demand an invoice, if necessary, even when microbusiness entities are involved in the implementation, which are exempted from issuing invoices

The changes will take effect on January 1, 2022.

6. Exemption from CIT from 2022:

This change will affect small businesses operating in the generally established tax regime. Valid if CIT is aimed at reinvesting in new fixed assets. The measure will increase investment in fixed assets.

7. Taxation of digital mining will be introduced in Kazakhstan. Adopted for the following purposes:

• for state regulation of mining and stimulation at the legislative level of the industry for the extraction of cryptocurrencies in Kazakhstan;
• to increase the receipt of money from mining in the budget;
• to reduce the uncontrolled consumption of electricity by mining farms.

Effective from January 1, 2022.

This package of changes has already been adopted, but several more changes are in the process of discussion and adoption at the state legislative level. We will keep you informed of all events and important changes in the Tax Code of the Republic of Kazakhstan.

Consulting company FChain is always ready to provide high quality professional assistance in the tax, accounting, legal, human resources areas of business. Stay healthy and safe!

Article is prepared by Ekaterina Kassumova

24^th of August, 2021