In the framework of tax control measures to counter capital outflow from the country, the Committee of State Revenues of the Ministry of Finance of the Republic of Kazakhstan has additionally levied taxes amounting to 17.7 billion tenge.
According to the analysis of data obtained from the National Bank on international taxation, taxes totaling 14.7 billion tenge have been reassessed.
The Committee of State Revenues highlighted that work is being carried out within the scope of international cooperation to strengthen measures against capital outflow from the country.
Kazakhstan is a participant in BEPS, a joint project of the OECD and G20, which aims to implement global tax rules to counter base erosion and profit shifting. In 2020, Kazakhstan ratified the Multilateral Convention, with the primary goal of ensuring taxation of profits in the state where entrepreneurial activities are actually carried out, and preventing artificial profit shifting to low-tax jurisdictions to evade taxes.
In addition to provisions on information exchange in the existing 55 tax agreements, Kazakhstan ratified the Convention on Mutual Administrative Assistance in Tax Matters (Strasbourg Convention). This is aimed at enhancing the efficiency of tax information exchange practices. Apart from written requests, the Strasbourg Convention provides for the possibility of automatic exchange of tax information.
Furthermore, in 2023, an Agreement was signed with the United States government to enhance international tax discipline (FATCA) regarding the exchange of data on financial accounts of Kazakhstan residents, including balances, interest amounts, and dividends paid starting from 2014.
Amendments have also been made to transfer pricing legislation, improving methods for determining market prices, introducing mechanisms to define market ranges, expanding the definition of related party transactions, and reinstating control over transactions conducted on Kazakh commodity exchanges.
