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Thursday, December 3rd, 2020

New drafts of the Tax and Customs Codes implemented within the framework of the Nation’s Plan – MNE RK

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The Vice Minister explained that the implementation of the four steps in the direction of “Industrialization and Economic Growth” within the framework of “100 Concrete Steps” was fixed for the MNE RK. Three of them concern tax and customs policy and one antimonopoly work.

Tax payments form about 64% of state revenues of the Republic of Kazakhstan. Optimization of tax and customs policy is an important component of high-quality economic growth and enhancement of the country’s investment attractiveness

Within the framework of the Nation’s Plan, work is underway to optimize the existing tax regimes – new drafts of the Tax and Customs Codes have been developed. With regard to taxes, it is envisaged to simplify the administration of business from the state, stimulate lending, and investing in geological exploration. It is also planned to introduce the institute of tax consultants, remote audit and tax credits.

“The work on the draft code has already been completed, this month we are planning to submit it to the Parliament, and we expect that it will be put into effect in 2018,” R. Dalenov said.

As for customs control, the emphasis will be placed on the introduction of electronic technologies in the declaration, the use of automatic information systems in the performance of customs operations and the use of “Single window” mechanisms when passing control.

Source: The Prime Minister of Kazakhstan

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