Reporting taxes in Kazakhstan is compulsory for every company. According to the World Bank’s Ease of doing business, administration related to paying taxes annually takes almost 200 hours on average. This makes Kazakhstan average complicated tax jurisdiction.
Corporate income tax in Kazakhstan
Corporate income tax (CIT) in Kazakhstan is 20% and is payable in equal advance installments, by the 25th of each month. Kazakhstan also imposes a special tax regime on some of the sectors such as oil and gas.
Companies producing agricultural products or operating in special economic zones (SEZ) may enjoy reduction or exemption from the CIT. These companies will have to meet a list of requirements to obtain the tax advantage.
Besides that, companies with when turnover higher than about 200,000 EUR need to register for VAT tax (sales tax) of 12%, which requires additional reporting.
Tax compliance for new companies
New companies are obliged to report taxes. There are various declarations that need to be filled in during the year which can be a complicated process.
Annual tax returns are due by 31st March of the year following the reporting year. Companies not meeting the reporting and payment deadlines will need to pay penalties for not following deadlines.
In addition, all tax reports should be submitted in the Russian language which might be an obstacle for a foreign company.
How can we help
Our company can take care of the whole process, so we provide the following services:
- Monthly bookkeeping and tax reporting
- Annual Tax return
- Junior Accounting (invoicing and online banking management)
- Internal audit
- Retrospective accounting and tax reporting
Outsourcing your accounting and tax reporting can simplify your business operations as well as help you to overpay taxes.
How to start with accounting and tax outsourcing:
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