The Law of the Republic of Kazakhstan dated December 21, 2022 No. 165-VII of the ZRK amended the Tax Code on damage suffered by large business entities during the state of emergency. The norm was introduced retrospectively and will be effective from January 1, 2022 to January 1, 2023. This was reported in the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan.

       In case of damage, loss of goods as a result of an emergency, large business entities:

      - deduct for corporate income tax (CIT) the amount of damage caused during the period of the state of emergency. Accordingly, such expenses can be taken into account when calculating the amount of CPN (in the direction of tax reduction). To do this, it is necessary to have a copy of the decision of the body conducting criminal prosecution on the recognition of the taxpayer as a victim in criminal cases related to an emergency, as well as a document confirming such damage, loss of goods and reflection of information about damage, loss of such goods in the tax register;

      - has the right not to reduce the amount of VAT previously credited.