<p style=”font-family:Roboto,sans-serif; font-size:13px; font-weight:600; color:#C9A96E; letter-spacing:3px; text-transform:uppercase; margin-bottom:16px;”>TAX ADVISORY · KAZAKHSTAN</p>
<h1 style=”font-family:Georgia,serif; font-size:48px; font-weight:400; color:#0A1628; line-height:1.2; margin-bottom:20px;”>Transfer Pricing in Kazakhstan</h1>
<p style=”font-family:Roboto,sans-serif; font-size:18px; font-weight:300; color:#333333; line-height:1.7; margin-bottom:16px;”>Bond Stone advises multinational corporations on transfer pricing in Kazakhstan — the arm’s length principle applicable to related-party transactions, thin capitalisation rules limiting interest deductibility, transfer pricing documentation requirements, and structuring intercompany service fees, management fees, royalties, and loans to comply with Kazakhstani transfer pricing rules.</p>
<p style=”font-family:Roboto,sans-serif; font-size:14px; color:#666666; font-style:italic; margin-bottom:32px;”>Primary authority: Tax Code of the Republic of Kazakhstan No. 214-VIII dated 18 July 2025 (transfer pricing provisions); Law “On Transfer Pricing” No. 67-IV dated 5 July 2008 (as amended). Verify current provisions at <a href=”https://adilet.zan.kz” style=”color:#C9A96E; text-decoration:none;”>adilet.zan.kz</a></p>
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<h2 style=”font-family:Georgia,serif; font-size:32px; font-weight:400; color:#0A1628; margin-bottom:20px;”>Key Framework</h2>
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<p style=”font-family:Georgia,serif; font-size:15px; color:#0A1628; margin-bottom:6px; font-weight:400;”>Transfer pricing framework — Kazakhstan</p>
<p style=”font-family:Roboto,sans-serif; font-size:14px; color:#666666; line-height:1.6; margin:0;”>Kazakhstani transfer pricing rules are governed by both the Tax Code No. 214-VIII and the Law on Transfer Pricing No. 67-IV dated 5 July 2008 (as amended). The arm’s length principle requires that transactions between related parties be priced as if conducted between independent parties in comparable circumstances. The Kazakhstani transfer pricing framework is broadly aligned with OECD Transfer Pricing Guidelines, though there are specific local requirements that differ from OECD practice. Bond Stone advises on transfer pricing compliance as part of every intercompany structuring mandate.</p>
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<p style=”font-family:Georgia,serif; font-size:15px; color:#0A1628; margin-bottom:6px; font-weight:400;”>Controlled transactions — what is covered</p>
<p style=”font-family:Roboto,sans-serif; font-size:14px; color:#666666; line-height:1.6; margin:0;”>Kazakhstani transfer pricing rules apply to transactions between related parties — including: transactions between a Kazakhstani entity and its foreign parent, subsidiary, or affiliate; transactions with entities in low-tax or zero-tax jurisdictions (regardless of whether they are related parties); and transactions that the tax authority determines are conducted with the intent of shifting profit out of Kazakhstan. Management fees, technical services, royalties, intercompany loans, and goods supply between related parties are all subject to transfer pricing scrutiny.</p>
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<p style=”font-family:Georgia,serif; font-size:15px; color:#0A1628; margin-bottom:6px; font-weight:400;”>Thin capitalisation — interest deductibility limit</p>
<p style=”font-family:Roboto,sans-serif; font-size:14px; color:#666666; line-height:1.6; margin:0;”>Interest on debt owed to related parties is subject to thin capitalisation restrictions under the Tax Code — limiting the amount of related-party interest that is deductible for CIT purposes. Where the ratio of related-party debt to equity exceeds the statutory limit, the excess interest is non-deductible. Bond Stone advises on structuring intercompany financing arrangements to comply with thin capitalisation rules while maximising interest deductibility within the permitted limits.</p>
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<p style=”font-family:Georgia,serif; font-size:15px; color:#0A1628; margin-bottom:6px; font-weight:400;”>Transfer pricing methods</p>
<p style=”font-family:Roboto,sans-serif; font-size:14px; color:#666666; line-height:1.6; margin:0;”>Kazakhstani transfer pricing rules recognise the following methods for determining the arm’s length price: Comparable Uncontrolled Price (CUP); Resale Price Method (RPM); Cost Plus Method; Transactional Net Margin Method (TNMM); and Profit Split Method. The most appropriate method depends on the nature of the transaction and the availability of comparable data. Bond Stone advises on method selection and works with the client’s transfer pricing specialists on the economic analysis supporting the arm’s length price.</p>
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<p style=”font-family:Georgia,serif; font-size:15px; color:#0A1628; margin-bottom:6px; font-weight:400;”>Documentation requirements</p>
<p style=”font-family:Roboto,sans-serif; font-size:14px; color:#666666; line-height:1.6; margin:0;”>Kazakhstani taxpayers conducting controlled transactions above the materiality threshold are required to maintain transfer pricing documentation demonstrating that the controlled transactions are priced at arm’s length. Documentation must be available for submission to the tax authority on request. Bond Stone advises on Kazakhstani transfer pricing documentation requirements and coordinates with the multinational group’s global transfer pricing policy to ensure local compliance.</p>
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<p style=”font-family:Georgia,serif; font-size:15px; color:#0A1628; margin-bottom:6px; font-weight:400;”>Tax authority scrutiny — risk areas</p>
<p style=”font-family:Roboto,sans-serif; font-size:14px; color:#666666; line-height:1.6; margin:0;”>The Kazakhstani tax authority actively scrutinises intercompany transactions — particularly: management fees and technical services paid to foreign parents; royalties for the use of IP owned by foreign affiliates; and intercompany loans with interest rates above or below market rates. Bond Stone advises on structuring and documenting these transactions to withstand transfer pricing challenge, and on the dispute resolution options available where the tax authority raises a transfer pricing adjustment.</p>
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<h2 style=”font-family:Georgia,serif; font-size:32px; font-weight:400; color:#0A1628; margin-bottom:20px;”>Experience</h2>
<p style=”font-family:Roboto,sans-serif; font-size:16px; color:#333333; line-height:1.8; margin-bottom:32px;”>Bond Stone has provided tax advisory as part of investment structuring and M&A mandates in Kazakhstan since 2007. Client confidentiality is maintained across all matters.</p>
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<p style=”font-family:Georgia,serif; font-size:14px; color:#0A1628; margin-bottom:6px; font-weight:400;”>Management Fee Structuring</p>
<p style=”font-family:Roboto,sans-serif; font-size:12px; color:#C9A96E; text-transform:uppercase; letter-spacing:1px; margin-bottom:8px;”>Transfer Pricing · Kazakhstan · Corporate</p>
<p style=”font-family:Roboto,sans-serif; font-size:13px; color:#666666; line-height:1.6; margin:0;”>Advising on structuring management fee payments from a Kazakhstani subsidiary to its foreign parent — arm’s length fee determination, service documentation, CIT deductibility, WHT on fee payments, and transfer pricing documentation to support the fee level.</p>
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<p style=”font-family:Georgia,serif; font-size:14px; color:#0A1628; margin-bottom:6px; font-weight:400;”>Intercompany Loan — Thin Cap</p>
<p style=”font-family:Roboto,sans-serif; font-size:12px; color:#C9A96E; text-transform:uppercase; letter-spacing:1px; margin-bottom:8px;”>Transfer Pricing · Kazakhstan · Finance</p>
<p style=”font-family:Roboto,sans-serif; font-size:13px; color:#666666; line-height:1.6; margin:0;”>Advising on an intercompany loan structure — arm’s length interest rate determination, thin capitalisation analysis to assess deductibility, documentation requirements, and WHT on interest payments to the foreign lender.</p>
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<p style=”font-family:Georgia,serif; font-size:14px; color:#0A1628; margin-bottom:6px; font-weight:400;”>Royalty — IP Licence Structure</p>
<p style=”font-family:Roboto,sans-serif; font-size:12px; color:#C9A96E; text-transform:uppercase; letter-spacing:1px; margin-bottom:8px;”>Transfer Pricing · Kazakhstan · Technology</p>
<p style=”font-family:Roboto,sans-serif; font-size:13px; color:#666666; line-height:1.6; margin:0;”>Advising on transfer pricing compliance for a royalty payment under an IP licence from a foreign group entity — arm’s length royalty rate determination, TNMM analysis, documentation, and WHT on royalty payments.</p>
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<p style=”font-family:Georgia,serif; font-size:14px; color:#0A1628; margin-bottom:6px; font-weight:400;”>Transfer Pricing Documentation</p>
<p style=”font-family:Roboto,sans-serif; font-size:12px; color:#C9A96E; text-transform:uppercase; letter-spacing:1px; margin-bottom:8px;”>Transfer Pricing · Kazakhstan · Corporate</p>
<p style=”font-family:Roboto,sans-serif; font-size:13px; color:#666666; line-height:1.6; margin:0;”>Preparing transfer pricing documentation for a multinational group’s Kazakhstani subsidiary — local file aligned with the OECD three-tier documentation framework, covering management services, intercompany loans, and goods supply transactions.</p>
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<p style=”font-family:Georgia,serif; font-size:14px; color:#0A1628; margin-bottom:6px; font-weight:400;”>Tax Authority Challenge — Defence</p>
<p style=”font-family:Roboto,sans-serif; font-size:12px; color:#C9A96E; text-transform:uppercase; letter-spacing:1px; margin-bottom:8px;”>Transfer Pricing · Kazakhstan · Dispute</p>
<p style=”font-family:Roboto,sans-serif; font-size:13px; color:#666666; line-height:1.6; margin:0;”>Advising a foreign-invested Kazakhstani company on responding to a transfer pricing challenge from the Kazakhstani tax authority — reviewing the authority’s comparables analysis, preparing a defence, and negotiating the transfer pricing adjustment.</p>
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<p style=”font-family:Georgia,serif; font-size:14px; color:#0A1628; margin-bottom:6px; font-weight:400;”>Low-tax Jurisdiction Transactions</p>
<p style=”font-family:Roboto,sans-serif; font-size:12px; color:#C9A96E; text-transform:uppercase; letter-spacing:1px; margin-bottom:8px;”>Transfer Pricing · Kazakhstan · Corporate</p>
<p style=”font-family:Roboto,sans-serif; font-size:13px; color:#666666; line-height:1.6; margin:0;”>Advising on transfer pricing compliance for transactions between a Kazakhstani entity and an affiliate in a low-tax jurisdiction — enhanced scrutiny applicable under Kazakhstani rules, arm’s length documentation, and substance requirements.</p>
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<p style=”font-family:Georgia,serif; font-size:20px; color:#C9A96E; margin-bottom:16px; font-weight:400;”>Why Bond Stone</p>
<p style=”font-family:Roboto,sans-serif; font-size:14px; color:#CCCCCC; line-height:1.8; margin-bottom:8px;”>✦ Investment-perspective tax advisory — tax efficiency built into every investment and M&A mandate</p>
<p style=”font-family:Roboto,sans-serif; font-size:14px; color:#CCCCCC; line-height:1.8; margin-bottom:8px;”>✦ AIFC RLA status — AIFC tax regime and 0% WHT structuring on a single mandate</p>
<p style=”font-family:Roboto,sans-serif; font-size:14px; color:#CCCCCC; line-height:1.8; margin-bottom:0;”>✦ Ranked Legal 500 EMEA and IFLR1000 — Almaty and Astana offices</p>
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<p style=”font-family:Roboto,sans-serif; font-size:14px; color:#666666; margin-bottom:32px;”>Primary authority: <a href=”https://adilet.zan.kz” style=”color:#C9A96E; text-decoration:none;”>adilet.zan.kz</a></p>
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<h2 style=”font-family:Georgia,serif; font-size:32px; font-weight:400; color:#0A1628; margin-bottom:12px;”>Discuss your Kazakhstan tax matter</h2>
<p style=”font-family:Roboto,sans-serif; font-size:16px; color:#333333; line-height:1.7; margin-bottom:24px;”>Contact Bond Stone for a confidential discussion about Transfer Pricing in Kazakhstan.</p>
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