Baku, Azerbaijan, Jan. 9
By Nigar Guliyeva – Trend:
Kazakh enterprises will be provided with investment preferences, the Ministry for Investment and Development of Kazakhstan said in a message on Jan.9.
"Within the framework of the Law of Kazakhstan on taxation, amendments and additions to the Business Code regarding investment projects, preferences and conditions for their provision are envisaged," the ministry said.
In order to improve the investment climate, it is envisaged that existing enterprises are exempted from corporate income tax for a period of three years.
"This privilege will be valid with an investment of at least 5 MCI (monthly calculation index). A requirement for a newly created legal entity before the day of filing an application for investment preferences (25 hours) was excluded, while the Tax Code introduces separate accounting," the ministry explained.
The list of documents attached to the application for investment preferences has also been 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.
The new Tax Code came into force on January 1, 2018.