Kazakhstan’s Prime Minister has urged businesses to pay fair taxes, addressing concerns over tax optimization schemes. A working meeting highlighted the need for compliance as tax authorities prepare to enforce additional payments. The misuse of tax regimes designed for small enterprises has been noted, emphasizing the importance of fair contributions from all taxpayers.
During a working meeting on February 28, Kazakhstan’s Prime Minister Olzhas Bektenov called upon local businesses and entrepreneurs to ensure that they are paying fair tax amounts. The meeting, which included Deputy Prime Minister and Minister of National Economy Serik Zhumangarin and Minister of Finance Madi Takiyev, focused on tax-budget reform and enhancing the oversight of tax revenues.
Prime Minister Bektenov addressed large company owners, warning them about tax optimization schemes that may have been misused. He specified that tax authorities will soon issue notifications regarding the necessity for additional tax payments, and urged all companies to submit supplementary tax declarations within two weeks. He stated, “If these actions are not taken, the state reserves the right to apply all available resources, including fiscal and law enforcement.”
Finance Minister Madi Takiyev pointed out that certain tax regimes initially designed to support small businesses are being exploited by dishonest taxpayers to minimize their tax obligations. He explained that some firms increase their documented costs artificially to obscure profits and evade VAT by engaging in transactions with other companies under favorable tax conditions.
Currently, Kazakhstan has approximately 2.3 million registered taxpayers, but only about 8% (137,000) are registered VAT payers. A significant majority, or 81%, operates under special tax regimes with simplified declarations, with 85% of those reporting revenue of up to 15 million tenge (approximately $30,000).
In summary, Kazakhstan’s leadership is emphasizing the importance of tax compliance among businesses to ensure fair contributions to the national budget. The call to action highlights the need for transparency and accountability in tax practices, particularly among larger corporations who may exploit loopholes. The government is prepared to take stringent measures against non-compliance while expressing a willingness to engage in dialogue with businesses that adhere to fair practices.
Original Source: en.trend.az
