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Kazakhstan

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New list of tax havens introduced

A new list of low-tax jurisdiction countries introduced by Government Decision No. 1318 of 31 December 2008 has become available. The new list applies from 1 January 2009.

According to the new Tax Code, which entered into force from 1 January 2009, a country is recognized as a low-tax jurisdiction if the income tax rate in that country is no more than 10% or the country has a law on confidentiality of financial information or laws under which information about factual owners of property or income, or a company's factual owners, founders and shareholders is a secret. A recipient of income from Kazakh sources who is a resident of such countries is subject to withholding tax at the rate of 20% instead of the generally applicable 15% WHT rate.

The list names the following countries and territories:

-   Andorra;
-   Antigua and Barbuda;
-   Bahamas;
-   Barbados;
-   Bahrain;
-   Belize;
-   Brunei;
-   China (People's Rep.) (only in respect of Hong Kong and Macao);
-   Colombia;
-   Comoro Islands;
-   Costa Rica;
-   Cyprus;
-   Djibouti;
-   Dominica;
-   Dominican Republic;
-   France (only in respect of (i) Archipelago Kerguelen, (ii) French Guiana, and (iii) French Polynesia); Fiji;
-   Grenada;
-   Guatemala;
-   Guyana;
-   Ireland (only in respect Dublin and Shannon);
-   Jamaica;
-   Lebanon;
-   Liberia;
-   Liechtenstein;
-   Luxembourg;
-   Malaysia (only in respect of Labuan);
-   Maldives;
-   Malta;
-   Mariana Islands;
-   Marshall Islands;
-   Mauritania;
-   Mauritius;
-   Monaco;
-   Montenegro;
-   Morocco (only in respect of Tangier);
-   Myanmar;
-   Nauru;
-   Netherlands (only in respect of Aruba and the Netherlands Antilles);
-   New Zealand (only in respect of Cook Islands and Niue);
-   Nigeria;
-   Palau;
-   Panama;
-   Philippines;
-   Portugal (only in respect of Madeira islands);
-   Samoa;
-   San Marino;
-   Seychelles;
-   St Vincent and the Grenadines;
-   St Kits and Nevis;
-   Spain (only in respect of Canary Islands);
-   Singapore;
-   Sri Lanka;
-   St Lucia;
-   Switzerland;
-   Suriname;
-   Tanzania;
-   Tonga;
-   Trinidad and Tobacco;
-   United Arab Emirates (only in respect of Dubai);
-   United Kingdom (only in respect of (i) Anguilla, (ii) Bermuda, (iii) British Virgin Islands, (iv) Cayman Islands, (v) Chagos Islands, (vi) Channel Islands (Guernsey, Jersey, Isle of Man, Sark, Alderney); (vii) Gibraltar, (viii) Montserrat, (ix) Turks and Caicos Islands, and (x) South Georgia and South Sandwich Islands);
-   United States (only in respect of (i) Guam, (ii) Puerto Rico, (iii) Wyoming and Delaware states, and (iv) US Virgin Islands); and
-   Vanuatu.

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