Kazakhstan Abandons VAT Rate Hike Following President’s Instruction

• Kazakhstan has abandoned plans to increase the value-added tax rate
• The government had proposed a four percent hike to 16 percent
• The decision was made to streamline spending and enforce existing tax laws more efficiently
• The Prime Minister stated that there will be no increase in the VAT rate and other ways to replenish the budget will be explored
• The Ministries of National Economy and Finance are tasked with improving tax and customs administration through digitalization.

Source: answerconnect.cch.com

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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