- The Minister of National Economy of Kazakhstan, Aliybek Kuanyshbayev, announced plans to increase VAT, CPT, and PIT rates as part of the new Tax Code.
- The VAT rate will be increased from 12% to 16%, resulting in additional budget revenues of 2-2.4 trillion tenge.
- The increase in VAT will primarily affect imported goods, while favorable tax conditions for food production and processing in Kazakhstan will be maintained.
- The CPT rate will be increased to 25-30% for the raw materials, financial sector, and gambling industry.
- The PIT rate may be increased for incomes exceeding 480 MCI per year (40 million tenge).
- Work is being done to tax luxury items, introduce additional excise taxes on imported high-priced alcoholic and tobacco products, and optimize special tax regimes.
- Tax regimes for the agro-industrial complex will be maintained, and new projects in the manufacturing industry will receive incentives for 3 years.
- Suggestions from senators and business communities include stability and predictability of tax legislation, support for geological exploration, and extending the retail tax regime to the manufacturing industry.
- All suggestions will be considered in the development of the new Tax Code in collaboration with the business community and experts.
Source: uchet.kz
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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