On taxes and other obligatory payments to the budget (Tax Code)

Article 262. Deduction of the amount of negative exchange rate difference in excess of the amount of positive exchange rate difference

If the amount of the negative exchange rate difference exceeds the amount of the positive exchange rate difference, the excess amount is subject to deduction.
Article 263. Deduction of taxes and payments to the budget

1. Unless otherwise established by this article, in a reporting taxable period, taxes and payments to the budget paid to the state budget of the Republic of Kazakhstan or another state are deductible:

1) in a reporting taxable period up to the amount of assessed and (or) calculated ones for the reporting taxable period and (or) taxable periods preceding the reporting taxable period;

2) in taxable periods preceding the reporting taxable period up to the amount of assessed and (or) calculated ones for the reporting taxable period.

In this case,paid amounts of taxes and payments to the budget are determined with account of offsets according to the procedure established by Articles 102 and 103 of this Code.

Taxes and payments to the budget are calculated and assessed in accordance with the tax legislation of the Republic of Kazakhstan or another state (for taxes and payments paid to the budget of another state).

2. As to a loan received from a non-resident bank with foreign participation in the authorized capital of such a bank at the time of conclusion of a loan agreement under which corporate income tax at the source of payment shall be paid from the borrower’s own funds from the amount of interest payable to the non-resident bank, the specified tax at the source of payment is deductible provided that the amount of such a loan exceeds 10,000,000 times the monthly calculated index established by the law of the Republic of Kazakhstan on the national budget and effective as of January 1 of a relevant taxable period.

3. Not subject to deduction:

1) are taxes excluded prior to determining total annual income;

2) is corporate income tax and taxes on income (profit), similar to corporate income tax of legal entities paid in the territory of the Republic of Kazakhstan and in other states;

3) are taxes paid in countries with preferential taxation;

4) is excess profits tax;

5) is an alternative tax on subsoil use.