Kazakhstan: Legislative proposal for regulation of digital technologies
Kazakhstan: Proposal for regulation of digital assets
Draft legislation concerning digital technologies is pending consideration by the parliament.
The draft law is intended to create a legal framework for the regulation of new digital technologies, including blockchain technologies, robotics, big data analyses, and video monitoring systems. The draft law also would establish legislative norms for digital assets, and would define two categories of digital assets:
- Secured digital assets that digitally certify property rights to goods or services
- Unsecured digital assets received as remuneration, but not including cryptocurrencies or virtual currencies that are not secured by real assets
The draft legislation does not provide for the separate tax treatment of activities related to blockchain technologies, but these would be subject to tax rules established under the tax law.
For more information, contact the head of KPMG’s Global Indirect Tax Services:
Lachlan Wolfers | +852 2685 7791| email@example.com
© 2022 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.