Kazakhstan makes it easier to get preferences for investment projects in tourism sector
Kazakhstan has expanded the range of subsidies and preferences for the tourism industry. So, in the beginning of this year, the Law of the Republic of Kazakhstan “On Tourism Activities in the Republic of Kazakhstan” came into force, making a number of important amendments to the legislation.
In terms of the development of investment projects in the tourism sector, since January 1, 2022, in order to sign an investment priority contract and receive appropriate preferences, the investor must invest at least 200,000 MCI (KZT612.6 million) in the implementation of a project. By the way, this is the lowest threshold among those established. For instance, the general threshold for all projects when creating new industries is 2 million MCI (over 6.1 billion), when updating existing ones - 5 million MCI (more than KZT15.3 billion), in case of creating new industries in the food industry and light industry - 1 million MCI (KZT3 billion).
Moreover, since this year, the Entrepreneurial Code has included tourism activities in the major business-supporting areas, along with small and medium-sized businesses, industrial and innovative activities, investment activities and the agro-industrial sector.
“Thus, business will also be supported by subsidizing the costs of tour operators in the incoming tourism for each foreign tourist, partial compensation of expenses during construction, reconstruction of tourist facilities, purchase of equipment and machinery for ski resorts, maintenance of sanitary facilities, construction of roadside facilities. service, etc., - said Alida Tuebekova, Director of Service Support Department of NC KAZAKHINVEST JSC.
Furthermore, it is worth noting such an innovation as a tourist fee for foreigners, which is a direct analogue of “bed tax”. This is a fee collected from tourists for every day of stay in places of accommodation for tourists, with the exception of hostels, guest houses, rental housing in cities and regions. Tourist fee operators for foreigners will transfer the received funds to the local budget. The rate of the contribution will be determined by Akimats.
Additionally, the Rules for subsidizing the expenses of tour operators in the incoming tourism entered into force. For each attracted foreign tourist, tour operators are subsidized their expenses in the amount of KZT15,000.