Foreign investors consider Kazakhstan one of most attractive markets in CIS

Over 30 percent of polled foreign investors consider Kazakhstan one of the most attractive markets in CIS, Interfax-Kazakhstan reports citing a partner in Taxation and Law Services of Ernst and Young Kazakhstan Yerlan Dossymbekov. “Over 30 percent of the respondents noted that Kazakhstan is one of the three most attractive markets in terms of investments in CIS, along with Russia and Ukraine. There have been positive changes that Kazakhstan government implemented that have an impact on the investment climate. First of all, political stability and high economic potential of the country,” he said at the press-conference in Almaty. He also noted that tax rates have become attractive for foreign investors in Kazakhstan. “Compared to many Western countrries, the taxes are much lower in Kazakhstan. Of course, it makes the tax system more attractive, as the tax load is not that high on foreign investors,” Dossymbekov said. He stressed that Kazakhstan’s tax administration is quite complicated and the investors “admit that the tax administration could have been more simple”. The research was held among 204 representatives of international companies from 21 countries. 163 participants were polled outside Kazakhstan (companies of 6 percent pf the respondents have representative offices in Kazakhstan) and 41 participants were polled in Kazakhstan. Ernst and Young is an international company working in audit, taxation, legal support and consulting. It started its activities in Kazakhstan in 1992. The company is a member of Kazakhstan President’s Council of Foreign Investors.