- Vice-Minister of National Economy of Kazakhstan, Azamat Amrin, announced changes to the Tax Code on June 27, 2024
- Changes in the Tax Code were made in accordance with the President’s instructions to reduce the number of taxes and forms of tax reporting
- Focus will be on informative procedures rather than punitive measures
- Penalties for late reporting were only applied in 5% of cases, with warnings issued in 95% of cases
- Inactive individual entrepreneurs will be closed after 1 year with notification
- Legal entities can now close through a “one-stop shop” principle
- Reporting requirements for property tax on land worth less than 1 million tenge will be eliminated
- The system will sum up seller’s operations and display VAT balance, allowing for issuance of VAT invoices if necessary
- Number of tax inspections has decreased significantly due to system improvements
- Tax inspection documents must be submitted electronically through the taxpayer’s portal
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.
