Existing enterprises to be provided with investment preferences - MID RK

9 January, 2018 15:52

In order to improve the investment climate, in particular, it provides for the release of corporate income tax for existing enterprises for a period of three years.

Within the framework of the Law of the Republic of Kazakhstan on taxation, amendments and additions are made to the Business Code, as regards investment projects, preferences and conditions for their provision.

According to the information of the Investment Committee of the MID of Kazakhstan, in order to improve the investment climate, it is envisaged that the current enterprises will be exempted from corporate income tax for a period of three years.

The requirement for a newly created legal entity is eliminated until the day of filing an application for investment preferences (24 months). In this case, the Tax Code introduces the maintenance of separate accounting.

The list of documents attached to the application for investment preferences is also optimized. Thus, a number of documents that justify the estimated cost of construction and installation work and the costs of acquiring fixed assets, raw materials and (or) materials are excluded.