Emerging Markets Rates and Currencies Handbook

Tax Summary – Kazakhstan Kazakhstan forward and NDF available locally • • All other derivatives booked out of Citi London / CGML • • FX losses in excess of FX gains are deductible • • FX losses on DF are deducted from current year P&L • • FX losses from NDF can be deducted only from potential gains of future NDF deals within 10 year tenor (applicable only to local corporates) Other Taxes/Duties • N/A • N/A • N/A • N/A • N/A Note: Citigroup Inc. and any of its affiliates do not provide accounting, tax, or legal advice. Please seek advice from a relevant licensed advisor. Source: Relevant legislation, publicly available sources Country Deductibility and Considerations Inter-Co Debt Offshore Bank Loans Offshore Local Borrowing Derivatives Equities