According to an update from the National Bank of Kazakhstan, the base interest rate was reduced from 16.00% to 15.75% with effect from 27 November 2023. The rate was previously reduced from 16.50% to 16.00% with effect from 9 October 2023. For tax purposes, the rate is important as it is used in determining late payment interest, which is calculated as 1.25 times the base rate, divided by 365 …