BAKU, Azerbaijan, Sept. 4
By Nargiz Sadikhova - Trend:
Kazakhstan’s Tax legislation will be revised to simplify the fulfillment of tax obligations and minimize the number of taxes and payments, Kazakhstan’s First Deputy Prime Minister, Alikhan Smailov said, Trend reports with reference to the press office of the country’s prime minister.
Smailov made the statement during an online press briefing held on Sept.4, 2020.
In Smalov’s words, the corresponding work has already begun. The right to pay retail sales tax will be introduced for SMEs operating in areas most affected by COVID-related restrictions.
“The possibilities of differentiating tax rates will be considered to diversify the economy and replenish the state budget. Special attention of the government will be paid to the development of new budget policy,” Smailov said.
He added that a set of key budget coefficients and rules will be developed, an assessment of the effectiveness and sustainability of budgetary policy will be held.
“With the introduction of the "extended budget", a Comprehensive Assessment of Public Finance will be introduced by including extra-budgetary funds in the consolidated budget,” Smailov said.
In his words, this will lead to new approaches to budget planning that will ensure a more complete implementation of national priorities in the state planning system.
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