Kazakhstan’s Prime Minister Calls for Fair Taxation Among Entrepreneurs

Prime Minister Olzhas Bektenov of Kazakhstan has urged local entrepreneurs to pay taxes fairly within two weeks, warning of consequences for non-compliance. The meeting with key economic officials addressed tax-budget reform and the exploitation of tax regimes. Kazakhstan has 2.3 million taxpayers, yet only 8% are VAT payers, prompting a push for tax accountability.

In Astana, Kazakhstan, Prime Minister Olzhas Bektenov has called upon local entrepreneurs and business leaders to adhere to fair taxation practices within a two-week timeframe. During a working meeting with Deputy Prime Minister Serik Zhumangarin and Minister of Finance Madi Takiyev, the discussions centered on tax-budget reform and improving oversight of tax revenues.

Prime Minister Bektenov specifically appealed to large company owners who engage in tax optimization schemes, cautioning that tax authorities would issue notifications requiring additional tax payments. He emphasized, “I ask everyone to submit additional tax declarations and pay fair amounts of taxes within two weeks,” warning of potential consequences if compliance is not observed.

Finance Minister Takiyev highlighted findings from an analysis indicating that certain special tax regimes, designed to aid small businesses, are being exploited by some taxpayers to evade tax responsibilities. He explained that some companies artificially inflate costs or engage in transactions to create losses, thereby circumventing VAT obligations.

Currently, Kazakhstan has approximately 2.3 million registered taxpayers, with only eight percent classified as VAT payers. The analysis revealed that 81 percent of businesses operate under special tax regimes that allow for simplified declarations, with a significant majority reporting incomes below 15 million tenge, or about $30,000.

In summary, Prime Minister Olzhas Bektenov has urged local businesses to ensure fair taxation, warning of strict enforcement measures for non-compliance. The government is scrutinizing tax practices, particularly misuse of special tax regimes intended for small businesses. Enhanced oversight and compliance are critical to improving the nation’s tax revenue structure.

Original Source: en.trend.az