Prime Minister of Kazakhstan Alikhan Smailov during a briefing in the Majilis of the Parliament of Kazakhstan told about the planned measures to increase state budget revenues.

As Alikhan Smailov noted, the Government faces the task to reduce the size of transfers allocated from the National Fund, and thus preserve it for future generations.

"Therefore, it is required to increase state budget revenues. Firstly, for this purpose, measures are being taken on digitalization of customs and tax administration. Secondly, we are working on reducing the level of shadow economy," Prime Minister said.

Another direction, he said, is to increase tax rates, in particular, the IPN and VAT.

"As for VAT, first of all, it reduces the competitiveness of imported goods. And as for domestic goods is concerned our agrarians do not pay value-added tax. At the same time, companies processing agricultural products receive a 70% discount. These benefits are being preserved. Micro and small businesses are also not included in the number of VAT payers," Alikhan Smailov noted.

Thus, the increase in rates will not affect domestic producers of basic food products. At the same time, it will give an opportunity to increase the republican budget revenues by about 2 trillion tenge.

"In this case, of course, we will reduce by this amount the transfer, which is attracted from the National Fund," the Prime Minister concluded.

#Alikhan Smailov #The Prime Minister of the Republic of Kazakhstan #Briefing #Budget