World Monitor Magazine WM_Energy 2017 - Page 16

DESTINATION KAZAKHSTAN So, the import of components (raw materials and ma- terials) as well as the turnover of sales of goods pro- duced in SIC will be exempt from VAT. Also, the transfer of property in financial leasing is exempt from VAT, if the transferred property is ac- quired without VAT and is included in the list of goods for SIC. The privilege on corporate income tax of the sums of remuneration from operations on leasing is extended. Investment projects. Now investment preferences are granted only for new projects and new businesses. Operating enterprises in the process of modernization and reconstruction of existing facilities are not provided for. To stimulate such enterprises, corporate income tax benefits are offered to existing enterprises imple- menting modernization and reconstruction projects . Benefits will operate for a period not exceeding three years from the completion of modernization and re- construction and provided that the investment is at least five million MCI. Taxation of SEZ. In order to strengthen the incentive role of tax incen- tives, the SEZ participants are offered to expand the conditions for applying the benefits. Due to the lack of income from priority activities dur- ing the construction period, the ‘90/10’ income ratio is not respected and, accordingly, the property tax and land tax benefits are not applied in the initial period of activity. With a view to the effectiveness of benefits, it is sug- gested to maintain separate accounting for privileged and other activities and granting tax benefits for land tax and property tax from the moment of registration. It is proposed to extend the extraterritoriality regime for the SEZ ‘PIT ’ members for a period up to 2028. Also, for participants of the SEZ ‘PIT ’, the con FF0f"FR66F&VVfBv&RFVBFFR&F`&"67G2BFFWV6W27W'&VB6FF( У@v&BF &"67G2BV7BSRbFRV6S( FR&Ч6VB6FF( FR&FbFR&gVBFFPFF7VbWV6W22s( 4D&fVvW2`vF&Vv&BFFRFW&旦Fb&VVfG2B2&Ч6VBF7&V6RFV"VffV7FfVW72F&Vv@6vW2'F7V"FRV7FfVRBVBf FRW6Rbfv&RvFW'v2&R&Ɨ6VB66PFR7FFRFW2B&fFR6W'f6W2BW&֗G2FW6R66W26BF27FvRB2&6VBF&FV&W b&VVfG2FW6R6VFRFR&VV6RbGW&fW"FR6W'f6W2b6B6W2FRVVFF`GFW'F6WG27FFR7FVB6v2'B`7FvR7F2खFR6Rv&fVvW2FB6G&F7BFRuD&WV&VVG2&R66VVB66R66&FrFFR&RЧV&VVG2bFRuDWV6FF2f"FF6VB&RƖVBf"vG2bFW7F2&GV7FB'B4UdTDF֖7G&Fp&62&VV7V&֗GFVBf"F&VRfV7F"BЦ֖7G&FFR&W6W'fFbFR֖VF&W6ЦBf"dB&Vv7G&FFRG&GV7FbdB6ЧG&66VBBFR&VGV7FbFRƖ֗FFW&@f"6BVFV6VB'W6W76W2g&F&VRFffRV'22vV2FW"6vW2WrFVwWr6VFfW2BWrWFG2`F֖7G&FFRfVFFf"VƗFFfRЧ&fVVG2vFFRFFbFfF2FF7WFW2vFV7&V6RFRV&W"b7V7F2v&R&VGV6VBBF֖7G&Fv&R6ƖfVB&Ц6W76rb&rFW&2v&V6VfR6VFfW2VBЦrv&R7W'FVBBFR2BFR4Rv&V6VfR6fVVB&VvW2FRFƖ72vPv&V6R6V"B&VF7F&R