The Head of State set the task of reducing the share of the shadow economy by at least 40% in three years. The Ministry of Finance has developed an action plan aimed at reducing the shadow turnover, including encouraging businesses to use cashless payments. The plan consists of 60 points.
“First of all, the ministry sees the task in digitization of tax and customs administration. The more we digitize our activities, the more efficient our work becomes and tax revenues increase, which means reducing the shadow economy,” said Smailov.
According to him, in 2018 thanks to improved administration, including digitalization, revenues amounted to 410 billion tenge of additional taxes. In 2019 the ministry plans to get extra 520 billion tenge of customs and tax administration.
“We are planning, by improving the work on flows from the People’s Republic of China, additional to these 520 billion tenge to get another order up to 200 billion tenge to the budget. Starting with shadow imports, it is necessary to conduct this work to reduce shadow turnover,” the minister noted.
At the same time, work is underway that will allow to receive export declarations from the Chinese side in electronic form.
“Together with them we will implement the project, the so-called ‘Pilot lock.’ when a lock is hung into the vehicle together with all the information about goods inside the transport,” Smailov said.
It is also planned to strengthen the risk system for the flow of goods from China, including the creation of a situational center, due to this it is planned to reduce differences in foreign trade between China and Kazakhstan.
Work is also underway to introduce new modern technologies, such as the blockchain, which will ensure the transparency of the fulfillment of tax obligations in real time, will provide an opportunity to instantly trace the chain of suppliers, which will help to eliminate fraudulent schemes.
“The ministry is taking all the necessary measures to maximize the use of new digital technologies in its work. For example, in 2018 alone, the Ministry of Finance provided 22.2 million public services, of which 94% was rendered in electronic form,” said Smailov.
In addition, in the country to reduce the share of shadow turnover is implemented a number of information systems such as electronic invoices, a virtual warehouse, VAT administration through separate accounts using blockchain technologies, the use of online cash registers.
Smailov also spoke about the implementation of the instructions of the President on the reorganization of the Economic Investigation Service. Thus, the service will be transferred to the Financial Monitoring Committee of the Ministry of Finance. The necessary legislation has already been adopted. Currently, work is underway to adopt the relevant by-laws.
The work of the updated service will be based on strengthening the analytical and IT components by processing data from all available information sources, including banks and other organizations. Emphasis will be placed on the prevention, identification of the conditions and causes of financial crimes, the suppression of the illegal withdrawal of capital abroad and the fight against the shadow economy.
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