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The budget to be supplemented by optimizing benefits and broadening the tax base – Suleymenov

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by January 31, 2017 Legal

T. Suleymenov said that a new National Fund management concept was adopted in late 2016, which aims to reduce the transfer size from 2.8 trillion tenge to 2 trillion tenge in 2020. At the beginning of next year, a gradual decrease of the transfer will be incorporated in a three-year budget.

Responding to a question, how will the missing funding draw, T. Suleimenov said that the main source of replenishment of the budget should be more economic activity, which will be created by a large number of government programs.

In this regard, it is important to broaden the tax base. According to the minister, the tax base will be optimized due to the expansion of business activity.

“GDP growth implies the emergence of new economic operators. Accordingly, they are all taxpayers, and we will draw the money due to the appearance of their economic activity, but not by raising taxes in any case,” the head of Ministry of National Economy said.

Another source of replenishment is the optimization of benefits. However, according to the minister, it does not mean their complete abolition.

“This means that those privileges are used inefficiently, which exhausted its usefulness in terms of the need for society and the state, will be eliminated,” T. Suleymenov said.

In conclusion, the Minister of National Economy stressed that the reduction in transfers from the National Fund will have no effect on the fulfillment of social obligations of the state. Further work will be undertaken to improve tax administration.

Source: The Prime Minister of Kazakhstan

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