Kazakh Parliament adopts new tax code

ASTANA. KAZINFORM During today's plenary session, the members of the Majilis of the Kazakh Parliament agreed on the Senate's amendments to the Draft Law "On Taxes and Other Obligatory Payments to the Budget", Kazinform correspondent reports.

"The Finance and Budget Committee considered the Senate's amendments and additions to the Draft Code ‘On Taxes and Other Obligatory Payments to the Budget'. The amendments cover the VAT exemption for pharmaceutical services, as well as services on the accounting and clearance of medical products and medical supplies. Moreover, they specify the application of tax privileges for agricultural machinery manufacturers since 2018," said Gulzhan Karagusova, the Chairperson of the Finance and Budget Committee of the Kazakh Majilis.

"You are kindly requested to support the amendments and additions made by the Senate," she added.

As we previously reported, the new Tax Code will be different from the current one by a completely different structure, new ideology. Besides, it will be easy for studying. It will also reflect measures with regard to the off-the-books economy, systematizing a number of privileges and subsoil use stimulation measures. Moreover, small and medium-sized businesses, farming sector enterprises will have easier conditions and simpler administration focusing on motivation.