What will the new tax code be like?

Feb. 28, 2024

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As you know, the previous government failed to develop a New Tax Code of Kazakhstan, offering only a harmful increase in VAT and other taxes from the new one.

And the task of developing this Code was inherited by the new government, moreover, along with the same deadlines for submitting it to the Mazhilis by May.

At the same time, the tax system of Kazakhstan has and continues to accumulate its extensive chronic diseases. One of the newest symptoms is the erosion of the principle of bank secrecy, full access of tax authorities to citizens' accounts with threats of total monitoring of transfers. In addition, excesses in tax enforcement, the vulnerability of entrepreneurs to tax authorities, combined with universal declaration, create pessimism and distrust of tax administration.

Only the active and passionate participation of the business community in the discussion of the new Tax Code can reverse the situation, so that it carries not a fiscally punitive, but a stimulating business activity function. And this window of opportunity is very short - only the next 6-9 months before its adoption in Parliament. Therefore, it is important for entrepreneurs to mobilize through their associations and make the emerging approaches to taxation the subject of a large public discussion.

This broadcast tells about the problems of the tax system of Kazakhstan and possible, no less, breakthrough solutions for the new Code, which would greatly increase the optimism of entrepreneurs at the same time as reducing the shadow sector.

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