Tax Messenger
Currency regulation in Kazakhstan: transactions lacking apparent economic substance
05.05.2026
In April 2026, amendments to the Rules for Currency Transactions in the Republic of Kazakhstan[1] entered into force, introducing, inter alia, the concept of transactions lacking apparent economic substance.
KEY PROVISIONS
- Transactions lacking apparent economic substance include financial loans provided by residents to non-residents (nonaffiliates) when the relevant contract (including as amended) does not provide for any interest.
- Such transactions may be carried out subject to the resident approving the authorized bank to disclose information on the transaction to currency control authorities and law enforcement agencies.
- Such consent may be given in any form.
AUTHORS
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Irina Bykhovskaya
B1 Partner
Tax, Law and Business Support
Contact
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Amangeldy Mussayev
BeOne Kazakhstan Partner
Tax, Law and Business Support
Contact
Show references
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[1] Approved by Resolution No. 40 of the Management Board of the National Bank of the Republic of Kazakhstan dated 30 March 2019
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