In the first half of
2024, Kazakhstan’s state budget received nearly nine trillion tenge, as
reported by the Ministry of Finance. The ministry highlighted its efforts to
modernize tax and customs administration and enhance state oversight. Also,
work has been carried out to create a modern institute in the country to
restore solvency and bankruptcy of individuals. Since January, the third stage
of universal declaration has been in effect, with business entities submitting
almost one million reports. The State Revenue Committee has also taken over
some currency control functions in export-import operations.
«In March 2024,
President Tokayev signed amendments to the law on transfer pricing aimed at
enhancing control over foreign economic activity participants. This will help
prevent state revenue losses and establish fair market prices for exported
goods. The transit potential is also growing. The capacity of border crossing
points with third countries has been increased by 36 percent. The number of
vehicles processed has risen from 440,000 in the first half of last year to
over 600,000 in the same period of 2024,» said Kazakh Vice Minister of Finance
Yerzhan Birzhanov.
