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Kazakhstan climbs 9 positions in Doing Business rankings

14 June 2017 15:16
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Kazakhstan climbs 9 positions in Doing Business rankings

ALMATY. KAZINFORM According to the 2017 Doing Business report results, Kazakhstan has risen from 54th to 45th place by "Starting a Business" indicator, Kazinform correspondent reports.

This became possible as a result of the simplifications for a number of business opening procedures made by the Ministry of Justice. In particular, it shortens the registration period from several days to one minute.

"Currently, not only the registration periods have been reduced, but also the charter capital requirement has been abolished as it is now possible to work without a stamp having an electronic digital signature. Registration time has been reduced to one minute via e-government. Previously, the Ministry of Justice simplified registration, but now some tax form procedures have been simplified as well. That is, entrepreneurs can now register value-added tax (VAT) through e-government. And this procedure will take one day only. Whereas earlier, it took up to five days," said Acting Head of Almaty City Justice Department Subdivision for Registration of Legal Entities Akerke Kozhakhmetova.

This provision was introduced in the Code "On Taxes and Other Mandatory Payments to the Budget" and has been effective since May 1 this year. All these changes were announced today in Almaty during the meeting between entrepreneurs and representatives of Justice and State Revenue city departments. The representatives of the departments also notified the businesses of other changes in the law as well. They will be enacted from January 1, 2018.

"The amendments were also made to Article 6 of the Law "On State Registration of Legal Entities and Registration of Branches and Representative Offices" with regard to application for electronic account opening and conclusion of insurance contracts on E-gov.kz portal," Kozhakhmetova noted.

It should be noted that the monitoring results showed that over 93 percent of private entrepreneurs in Almaty were registered online this year.

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Almas Zheksenbekov

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