As previously reported, Kazakhstan has introduced changes in the taxation of dividends that come into force on 1 January 2023, including the removal of the general exemption for dividends received. However, an exemption (exclusion) may still apply in certain cases, including where the dividends are paid on shares (securities) that are listed and actively traded on Kazakhstan stock exchanges (KASE, AIFC). For this purpose, Government Decree No. 911 has been issued to clarify the meaning of a…