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National Bank of Kazakhstan Increases Base Rate to 14.0% — Orbitax Tax News & Alerts

On 25 April 2022, the National Bank of Kazakhstan announced its decision to increase the based interest rate to 14.0%, which is effective from 26 April 2022. This follows earlier increases in the rate to 10.25% from 25 January 2022 and to 13.50% from 24 February 2022. For tax purposes, the rate is important as it is used in determining late payment interest, which is calculated as 1.25 times the base rate, divided by 365 to determine the daily rate. Click the following link for the rate change history.