During a briefing following the Government meeting, the Prime Minister answered a question from journalists regarding businesses fulfilling their tax obligations fairly. In particular, the issue concerned tax payments by large construction companies.

Since the beginning of this year, 13.8 thousand notifications have been issued to companies in the construction sector, and additional reports have been filed totaling about 116.4 billion tenge, of which 47.1 billion tenge have been recovered.

“Businesses use formally legal schemes to optimize their tax burden. We are working to bring businesses to a state where they pay fair taxes. The new Tax Code, which will come into effect next year, is aimed at that, among other things. We are narrowing the scope of preferential tax regimes: we have lowered the threshold and will eliminate certain categories that don’t correspond to the intended meaning — for example, the retail tax. For some reason, construction and installation work falls under the retail tax, although it is a business-to-business interaction and doesn’t fit the concept of retail. This is a fine-tuning process. We will continue working in this direction,” Olzhas Bektenov emphasized.

#Olzhas Bektenov #Tax Policy

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