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. exemption from income tax for a period of up to 5 years from the moment of receiving the taxable supply, but for not more than 8 years from the conclusion of the contract;

. full or partial exemption from customs duty assessments for importation of equipment and raw materials needed to fulfill the investment project.

In 1997 there were developed direct foreign investments in the amount of
$1830.8 mln., with regard to repayment of credit according to the schedule there were developed $1176.8 mln.

The main direct investors in 1997 were non-residents from the states of far abroad, among which the first place on developing direct foreign investments belongs to Japan with investments in $ 381.5 mln, then - USA ($
207.4 mln.) and Great Britain ($ 241.4 mln.).

Level of Taxation usually depends on status of company or persons. It is very important is a company/ person resident or not, does nonresident perform entrepreneurship through permanent establishment or not. Resident entities are taxable on their worldwide income received or accrued within a reporting period (calendar year) at the 30% basic tax rate (The amount of taxable income is determined by subtracting deductible expenses and deductions on fixed assets from gross income). Income of nonresident entities derived from carrying on business in Kazakhstan through a permanent establishment is subject to taxation under the same rules as income of Kazakhstan residents. Nonresident entities are subject to taxation on income received from Kazakhstan sources. Incomes from
Kazakhstan sources, except income in the form of dividend (15%), remunerations (the interest) (15%), insurance payments (10%), telecommunication or transport services in international network or transportation between RK and the other state (5%), taxed on corresponding to rate, are taxed by tax beside the source of the payment at rate 20 percents. As we can see nonresidents pay at less tax rates as residents. So nonresident taxation have important meaning to Kazakhstan. It means that if government will not clearly realize this problem, government may find miss a big amount of money in budget, that may needed for other thing; defense, education, social security etc. In the cases then foreigners or local company/ person decide use Nonresident taxation legislation to reduce its tax burden. Government should clearly determine the conception of Residency and Nonresidential, to avoid abuse in determination of residency. Clearly determine taxed incomes of nonresidents through permanent establishment.
Determine list of the taxable incomes of nonresidents.

Clear and stable taxes let to improve investment climate in Republic, also it lead to development of entrepreneurship in Kazakhstan, because now many domestic companies receive, commonly, services from foreign companies in applying new technologies, training of staff, reclamation of new types of services, expanding markets for goods and services.

Conclusion

Since independence the legal system of the country has undergone considerable reforms. The new constitution and a number of new constitutional laws on state system and governmental bodies of Kazakhstan have been passed. Amendments were introduced to the Civil, Criminal and Tax
Codes, trade and investment regulations and other legal acts regulating the major aspects of the country life.

Taxes – is basic sources of incomes of the state so the dominant motivation for taxation in any counties is to finance public administration and the public provision of economic and social service. Second motivations are the redistribution of income and correction of market imperfections.
But also tax creates distortions in the economy that reduce the real income of taxpayers by more than amount of revenue that is transferred to the government. This occurs when taxpayers either modify their behavior in an attempt to reduce their tax burdens or spend resources in evading taxes.
Taxes are used for economic influence of the state on public manufacture, its structure, and on condition of scientific and technical progress. By tax government may discourage domestic production and foreign investments.
So government should balanced between public provision of economic and social service, and level of taxation. The appropriate level of taxation depends on a country’s desired role for the state, the efficiency and equity of its public spending, and the efficiency and equity of its tax structure and administration. The Government of Kazakhstan is clearly aware of this and continues to make steady progress in developing its tax system to fit the realities of modern business in the global economy.

Consideration of Nonresident taxation is important because this tax may use as a loophole for avoiding or decreasing tax burden of taxpayers.
Level of tax payments is critical to the economic development of Kazakhstan as sovereign state.

So it can decrease level of tax collection and level of social expenditures. Lead to social instability in society.

Appendix A

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Sources: Statistics Agency of RK, 2001

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Sources: Statistics Agency of RK, 2001

Appendix B

[pic]

Sources: Statistics Agency of RK, 2001

The tax revenue in the consolidated budget has shown a rising trend in the last two years. The performance of domestic taxes (particularly VAT and
Excises) has been improving.
| |Income |Income | | |Land |Ownership |Social|Property |
| |Tax |Tax | | |Tax |Tax |Tax |Tax |
| |from |from | | | | | | |
| |Legal |Physica| | | | | | |
| |Entatie|l | | | | | | |
| |s |Persons|VAT |Excises| | | | |
|1999|54759 |35329 |89030 |18956 |4644 |24537 |70463 |15210 |
|2000|163529 |51016 |115132|19285 |5506 |26693 |9907 |14763 |

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Sources: Statistics Agency of RK, 2001

THE LIST of USED SOURCES

1. Law of Republic of Kazakhstan from January 1, 2002 " Law on Taxes and other obligatory Payments to the Budget "

2. " Law on Taxes and other obligatory Payments to the Budget " Chapter 7
“Features of Taxation on Nonresidents Income” (with changes from January 1,
2002)

3. Bulletin of Accountant, “Tax Code about Taxation of Operation with
Nonresidents of RK " (Print house “BIKO” Almaty, 2001) / 1 – 35/

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