ANNOUNCED AS TEMPORARYNo
On 21 September 2015 the Government of the Republic of Kazakhstan introduced a formula for the maximum amount of investment subsidies that it would provide to investors in the 2015 financial year.
The introduces rules for investment subsidies are based on a regressive scale from 30% to 5%, depending on investor's construction work costs and expenditures for acquisition of equipment. That is, the first costs are calculated in such a way that they obtain maximum state financing. Subsequent investor's costs obtain lower state financing, therefore the scale is denominated "regressive".
A maximum 30% subsidy corresponds to investor's first expenditures of up to five million times the Monthly Index Factor ('MIF'). In 2015 MIF was at the amount 1 982 tenge, or ca. 10.7 USD. A minimum 5% subsidy receive investor's expenditures of up to 25 million times the MIF.
The legal basis is a Joint* Order No.14 of the Minister of Investments and Development of the Republic of Kazakhstan, dated 19 January 2015, No.146 of the Minister of the Finance of the Republic of Kazakhstan, dated 2 March 2015, No. 556 of the Minister of National Economy of the Republic of Kazakhstan, dated 21 July 2015 'On Establishment of Limits for Investment Subsidies for the 2015 Financial** Year' ('the Rules').
* This is one document.
**The term "financial year" is related to public budgeting.
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