- A draft law would exempt banks’ factoring and forfaiting operations from VAT.
- The proposal is open for public discussion until September 25, 2026.
- It adds a new subparagraph to the Tax Code so these operations by second-tier banks are treated as VAT-free financial transactions.
- The change is meant to lower the cost of financial services and improve business access to financing, following international practice.
- The law is planned to take effect on January 1, 2027, with some separate provisions delayed until January 1, 2035.
Source: uchet.kz
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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