ASTANA, Kazakhstan, February 11. Starting today, six working groups will begin discussions with the business community in various regions regarding government initiatives, said Kazakhstan’s Minister of National Economy Serik Zhumangarin at a government meeting chaired by Prime Minister Olzhas Bektenov, where the new amendments to the country’s tax legislation were presented, Trend reports.
He noted that groups have already departed and will hold meetings with businesses on-site.
Deputy Prime Minister and Minister of National Economy Serik Zhumangarin outlined several proposed changes: raising the VAT rate from 12 up to 16 percent with differentiation by sector; reform of special tax regimes; lowering the threshold for mandatory VAT registration from 80 million tenge ($160,000) to 15 million tenge ($30,000). It is proposed to establish a reduced 10 percent VAT rate for the healthcare sector.
Moreover, agricultural producers (legal entities) currently pay 30 percent of VAT to the budget. Under the new amendments, they will be exempted from paying VAT.
Furthermore, amendments to the draft of the new Tax Code are expected to be submitted to the Mäjilis (lower house of parliament) by February 20 this year.
To note, a discussion was held on February 10 with the National Chamber of Entrepreneurs “Atameken” and business representatives on differentiated tax rates, special tax regimes, and VAT registration threshold.