At an enlarged meeting of the Finance and Budget Committee the senators discussed the bill "On Amendments and Additions to the Code of the Republic of Kazakhstan "On Taxes and Other Obligatory Payments to the Budget" (Tax Code) and the Law of the Republic of Kazakhstan "On Enactment of the Code of the Republic of Kazakhstan "On Taxes and Other Obligatory Payments to the Budget" (Tax Code)" aimed at further developing entrepreneurship and attracting investments to Kazakhstan.
The innovations prescribed in the bill envisage extending the norm of VAT reduction by 70% in the processing of agricultural products. Now such a reduction of tax payment will also apply to enterprises engaged in processing of fish. It was proposed to introduce a 70% reduction of VAT rate for producers of sugar, confectionery and yeast. The bill offers exemption from VAT for importers of raw sugar.
The bill also stipulates the application of a flat fee for the initial registration of vehicles imported from abroad into Kazakhstan before September 1, 2022. The amount of the fee is - 200 thousand tenge. This order the President of Kazakhstan Kassym-Jomart Tokayev voiced in his message to the people of Kazakhstan " Fair State. One Nation. Prosperous society."
As a result of discussion of the bill at an enlarged meeting of the Committee the senators decided to submit it to the House.
(Senate Press Service, 74-72-27. Photo by B. Serikbay)
