In Kazakhstan, it has been proposed to set the value-added
tax (VAT) rate at 16%, with a threshold of 40 million tenge. The draft Tax Code
and related legislative amendments on taxation were approved by the Mazhilis,
the Lower House of the Kazakh Parliament, in the first reading. According to
Serik Zhumangarin, the Deputy Prime Minister and Minister of National Economy,
the document proposes updating the tax structure, redistributing the tax
burden, and strengthening control over the provision of tax benefits. Overall,
he noted that tax reporting in the country will decrease by 30%. Additionally,
socially important food products, archaeology, and book printing will be exempt
from VAT. The tax burden for agricultural producers will also be reduced by up
to 70%. The country also proposes simplifying
tax regimes for businesses.
«We have reached a general agreement on the value-added tax
rate, which has been a key issue for society. We have concluded that everyone
will pay taxes in proportion to their income. For example, small and
medium-sized businesses involved in trade, services, and goods production will
operate under a special tax regime. This will not impact the finances of
ordinary citizens, in line with the objectives of the new tax policy,» said Mazhilis
Chairman Yerlan Koshanov.
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