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Senate of the Parliament
of the Republic of Kazakhstan

News

The Senate discusses changes to the Tax Code

22.06.2022 99

At an enlarged meeting of the Senate Committee on Finance and Budget, deputies considered a draft law "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 introduction of the Code of the Republic of Kazakhstan" On Taxes and Other Obligatory Payments to the Budget".

The document was developed in execution of the instructions of the Head of State and is aimed at solving the urgent problems of the Government on taxation issues.

The purpose of the document is to improve the tax burden on the mining sector and the exemption from mineral extraction tax for new deposits.

In addition, the Bill provides for the installation of rates for digital mining with the expectation of equalizing the total price of electricity and the amount of fees for all miners, and also proposes a phased increase in excise taxes on various types of tobacco products, including heated tobacco products.

It is expected that the Bill will increase the flow of additional funds into the budget to ensure the implementation of socio-economic objectives of the state, reducing the risk of capital flight abroad, increasing returns from the use of subsoil, the exclusion of inefficient benefits and preferences, as well as improving tax administration.

As a result of the discussion, the members of the Committee decided to send the Bill to the House.

(Senate Press Service, 74-72-27)

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