- Kazakhstan proposes differentiated VAT rates: 0%, 10%, and 16%.
- Agricultural producers will be exempt from VAT.
- Industries qualifying for the 10% rate will be determined through consultations.
- The government aims to increase annual tax revenues by 4-5 trillion KZT.
- President Tokayev rejected a previous plan to increase VAT to 20%.
- Tokayev emphasizes the need for a balanced approach to support businesses and increase budget revenues.
- The new VAT reform plan is part of a broader tax overhaul.
- The draft Tax Code also proposes a differentiated corporate income tax rate for banks.
Source: timesca.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.
