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2. GENERAL PROVISIONS
GUIDANCE
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2. GENERAL PROVISIONS

1    1. Paragraph 6 of the Rules establishes the conditions that must be simultaneously fulfilled for a Centre Participant to be recognized as substantially present within the Centre's territory (hereinafter, the Conditions).

 

If all the Conditions specified in paragraph 6 are met, the Participant may apply for exemptions from Corporate Income Tax (CIT) and Value Added Tax (VAT) when providing specified financial services, as outlined in paragraph 3 of Article 6 of the Constitutional Law of the Republic of Kazakhstan "On the Astana International Financial Centre" (hereinafter,  the Constitutional Law) and paragraph 5 of Chapter 3 of the List of Financial Services provided by participants of the Astana International Financial Centre[1] (hereinafter, the List of Financial Services).

2. The time period for a Centre Participant to be recognized as substantially present is a calendar year. The Participant will be considered substantially present only within the tax period in which they fulfill the conditions.

3. Centre Participants are required to follow the Guidance to independently determine whether the conditions stipulated by the Rules have been met when conducting activities within the Centre's territory.

 4. Tax audits by state revenue authorities are conducted in accordance with the tax legislation of the Republic of Kazakhstan.

5. An economic study of the project, including expense justifications and employee numbers, must be submitted to the state revenue authority at the place of registration by March 31 of the year following the reporting period. This submission should follow the provided form in Annex 1 and consider the deadlines for extending tax return submissions.

6. Centre Participants should make their best efforts to submit the economic study according to the procedure and deadlines outlined in paragraph 5 above.

7. Failure to submit the economic study as per the procedure and deadlines mentioned in paragraph 5 above may result in administrative liability in accordance with the laws of the Republic of Kazakhstan.

8. With respect to paragraph 13 of the Rules Centre participants are prohibited from outsourcing or subcontracting services and works directly related to the Core Income Generating Activities (hereinafter, CIGA) outside of the Republic of Kazakhstan.​


[1] Joint Order of the AIFC, the Ministry of National Economy of the Republic of Kazakhstan and the Ministry of Finance of the Republic of Kazakhstan "On Approval of the List of Financial Services Income from which is Exempt from the Payment of Corporate Income Tax and Value Added Tax, provided by Participants of the Astana International Financial Centre".