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Astana, Kazakhstan • 11 January 2024

Kazakhstan Introduces Tax Relief for Creative Industries

Film production, sound recording, theater arts, and other sectors are eligible for a special retail tax regime

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Collage by QazMonitor
Collage by QazMonitor

The Ministry of Culture and Information, in collaboration with the Ministries of National Economy and Finance, has undertaken comprehensive efforts to relieve the tax burden on entities within the creative industry.

Minister of Culture and Information Aida Balayeva shared the details on her Facebook page. The government has issued a resolution outlining 40 types of activities eligible for a special retail tax regime. This implies that businesses are exempt from Corporate Income Tax (CIT), Individual Income Tax (IIT), and Value Added Tax (VAT), and will instead pay a unified tax ranging from 2% to 4% for individual entrepreneurs and 8% for LLPs. A company's annual turnover should not exceed 2.2 billion tenge, and the staff numbers should not exceed 200 people.

The tax relief measures extend to the following sectors: film, video, and TV program production and post-production, sound recording, publication of musical works, theater and museum arts, architecture, design, craftsmanship, folk art, and souvenir production.

Minister Balayeva emphasized the significance of international analysis in formulating this support measure, highlighting that insights from leading nations such as the UK, Germany, and South Korea demonstrate the crucial role of easing the tax regime in fostering the development of the creative industry.

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