The amendments are envisaged in connection with the adoption of the Law of the Republic of Kazakhstan "On Amendments to Certain Legislative Acts of the Republic of Kazakhstan on the cotton industry and the invalidation of the Law of the Republic of Kazakhstan "On the Development of the cotton industry".Reduction of taxable income under the CPN The new subparagraph 3-1) of paragraph 1 of Article 288 of the Tax Code will enter into force on January 1, 2022
-It is envisaged that the subjects of social entrepreneurship will reduce the taxable income under the CPN in the amount of expenses incurred to pay for vocational training, professional development or retraining in the profession of employees who are disabled, parents or guardians raising disabled children, pensioners, graduates of orphanages under the age of twenty-nine, persons released from prison within twelve months after release, candas, but not more than 120 times the size of the monthly calculation index, established by the law on the republican budget and effective on January 1 of the corresponding fiscal year per employee for the tax period.
-Application of additional VAT offset (70%) For new manufacturing companies, the right to apply an additional offset (70%) is provided for when selling goods that are the result of manufacturing activities in the manufacturing industry (the production of which does not exist on the territory of the Republic of Kazakhstan or does not cover the needs of the Republic of Kazakhstan, except for the production of alcoholic beverages, production of tobacco products and metallurgical industry) The new subparagraph 4) of paragraph 1 of Article 411 of the Tax Code comes into effect on July 1, 2021..
-Extension of VAT exemption on imports to the FEZ"Qyzyljar" Amendments will ensure the availability of agricultural machinery due to a 12% reduction in price and an increase in labor productivity of domestic farmers by 2 times Subparagraph 15) of paragraph 1 of Article 399 and subparagraph 4) of paragraph 2 of Articles 451 and 451 of the Tax Code.
-Application of the minimum price level (MTC) A new instrument of the trade policy of the ICC was introduced to establish the value when calculating VAT on imported goods according to the list established by the Ministry of Trade and Integration of the Republic of Kazakhstan. During the monitoring of transported goods from the EAEU countries, the state revenue authorities reveal numerous violations, including underestimation of the cost of imported goods. All these facts lead to VAT losses due to the underestimation of the tax base and put bona fide entrepreneurs and manufacturers in unequal competitive conditions. The introduction of a minimum price level for certain goods from the EAEU countries will help prevent the facts of undervaluation of imported goods and will allow VAT to be collected from the current tax base. This measure is aimed at supporting and protecting domestic producers. It is also the possibility of applying mirror measures against countries that discriminate against Kazakh exports, paragraph 2 of Article 444 of the Tax Code will come into effect from January 1, 2022.