Significant changes to the Tax Code aimed at regulating taxation of Internet platforms will come into force in Kazakhstan from September 1, 2024. These innovations apply to both local and foreign companies operating in the digital economy.
According to the amendments, an Internet platform operator is recognized as a tax agent. It has the same rights and obligations as a taxpayer – withholding and remitting mandatory pension contribution, social contributions, mandatory social health insurance contributions and individual income tax.
These changes are aimed at:
– Increasing tax revenues from the growing digital economy sector.
– Increase transparency and accountability of financial transactions in the digital economy.
It is expected that the new rules for taxation of Internet platforms in Kazakhstan will contribute to the creation of a fairer and more sustainable tax system adapted to the modern challenges of the digital economy.
Article is prepared by Director of FChain Kazakhstan
Ekaterina Kassumova
11.07.2024
