Kazakhstan to reduce the number of taxes

Tengrinews.kz – Kazakhstan to reduce the number of taxes. This was announced by Deputy Prime Minister and Minister of National Economy Serik Zhumangarin.
The corresponding provisions are included in the draft of the new Tax Code, currently under consideration in the Mazhilis.

“We are reducing the number of taxes, payments, and fees. Instead of 12 taxes, there will be 11. Two of the 10 fees are proposed to be eliminated: for advertising placement and for the use of licenses. It is also proposed to merge three types of fees – for the use of water resources, forests, and wildlife – into a single fee for the use of natural resources,” Serik Zhumangarin said during a plenary session of the lower chamber of Parliament.

The number of rates within these payments will be reduced by 77.
Additionally, the draft proposes cutting six types of charges, with 34 rates to be eliminated. Five types of state duties are also to be removed, along with 51 associated rates.
As a reminder, today the Mazhilis is reviewing amendments to the Tax Code in the first reading. It was previously stated that the VAT rate under the new code will be set at 16%, and the VAT threshold will be established at 10,000 MRP (approximately 40 million tenge).