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Ministry of National Economy: Tax burden on the economy not to grow

by February 4, 2017 Market

2017 will see a lot of work on tax incentives for industries of the new economy, The Minister of National Economy T. Suleimenov reported at the press conference following the Government meeting.

In general, tax revenues will match the structure of GDP.

The mining sector will remain a key source of budget replenishment. Our taxation of the mining industry is deliberately made heavier. It stands firmly on its feet, so it carries a full tax burden. We are trying to get rid of taxes for manufacturing, small, and medium enterprises, � T. Suleimenov said.

According to the minister, this trend will continue in 2017.

In addition, under the new Tax Code the Ministry will review all incentives to eliminate inefficiencies. At the same time, the Ministry of National Economy is developing new tax incentives for industries of the new economy. These actions will result in reduction of the tax burden on the economy.

Source: Government of the Republic of Kazakhstan