Kazakhstan. Tax and legal news. January 2022.
Increases in the minimum income and monthly calculation index. Changes in tax legislation
From 1 January 2022, the following new provisions apply:
- The minimum income increased from KZT 42,500 (approx. EUR 46) to KZT 60,000 (approx. EUR 122). At the same time, the monthly calculation index (MCI), which is used to calculate taxes and many obligatory payments, as well as administrative fines rose by KZT 3,063 (approx. EUR 6).
- The turnover threshold for compulsory VAT registration has been reduced from KZT 30,000 to KZT 20,000. Thus, it is now KZT 61,260,000 (about EUR 124,817).
- Persons engaged in digital mining (the creation and management of cryptocurrency generation systems) will be subject to taxation. The tax rate is KZT 1 (about EUR 0.002) per kilowatt hour of electricity consumed in mining.
- Foreign companies engaged in e-commerce and e-services will be subject to VAT at a rate of 12%.
- A new simplified tax regime for calculation and payment of taxes is available for small businesses, called a special tax regime with the usage of special mobile application “E-Salyq Business”.
- Based on the above, we kindly remind our taxpayers not to forget updating the calculation indexes in their accounting and tax systems for calculation of the respective taxes and obligatory payments to the budget as well as pay attention on new taxes becoming effective from 2022.