CORPORATE INCOME TAX IN KAZAKHSTAN TO BE CUT BY 15% BY 2014
Almaty. October 15. Interfax-Kazakhstan - Kazakhstan's corporate income tax will be lowered to 15% in 2014, said the Minister for Economic Integration Zhanar Aitzhanova on Monday.
"Within the Customs Union the Government of Kazakhstan apart from expanding the market is working on improving the investment climate. First, among the three
Customs Union countries, Kazakhstan has the most favorable tax rates for businesses, in particular, VAT. We have a VAT rate of 12%, Russia has an 18% VAT and Belarus 20%. Kazakhstan's corporate income tax is set at 20%, but we plan to reduce it to 15% by 2014. Russia has a 20% CIT and Belarus levies 18%," she said at the forum
"The Customs Union and WTO: Regional and Global Aspirations - Russia and Kazakhstan," on Monday in Almaty.
Aytzhanova noted that the social security tax in Kazakhstan, compared to
CU countries is much lower, 11%, while our partners Russian and Belarus have 34% and 28% respectively, " she said.
"(...) We provide for CIT exemption for the propjets that are part of the free economic zones, as well as grant property and land tax exemption," said Aytzhanova.