Business Owners Warned for Citing VAT as Reason for Price Increases
Photo: Orda.kz
Prices have started to climb after the government announced plans to raise the VAT rate. In response, Minister of Trade and Integration Arman Shakkaliyev issued a warning to business owners, Orda.kz reports.
Shakkaliyev emphasized that using tax reform as a justification for price hikes is illegal and could lead to sanctions.
Provide us with specific cases. If you see someone publicly claiming that prices are rising due to the upcoming tax changes, that is grounds for investigation by both our Ministry and the antimonopoly authority. There are sanctions for such public statements. So, if you have concrete examples of what has become more expensive and where, we will address them accordingly, the Minister stated.
Shakkaliev reiterated that linking price increases to tax reforms violates antimonopoly laws.
Original Author: Zhadra Zhulmukhametova
Latest news
- Kazakhstan’s Credit Rating Upgraded for First Time in a Decade
- While Thousands Lost Power, KEGOC Executives Received Nearly Half a Billion Tenge
- Changi Airport Group May Help Build Astana’s New Airport
- US Again Extends Deadline for Lukoil to Sell Its Assets in Kazakhstan
- Kazakhstan Extradites Business Manager From Russia in 290 Million Tenge Tax Case
- Released Amur Tiger Successfully Hunts in Kazakhstan’s Wild
- Kazakhstan Moves to Develop Critical Minerals as Global Competition Intensifies
- Another Performance by Kazakh Stand-Up Comedian Called Off
- Uzbekistan Begins Preparations for Second Nuclear Power Plant
- Backpack Links Glacier Remains to Man Missing for 19 Years
- 650-Hectare Wildfire Contained in Karaganda Region
- Unusual Wildlife Encounter Captured in Altyn-Emel
- Retired Border Service Dog Sold for $2 at Kazakhstan Auction
- Will Kazakhstan Have Enough Coal This Winter?
- Belarusian Hikers Find Body on Glacier Near Almaty
- Kazakhstan Investigates Spending on 242 Million Tenge Educational Game
- Kazakhstan Makes Caspian Oil Companies Pay for Counterterrorism Deployments
- Kazakhstan Faces Shortage of 245,000 School Places
- Waste Dumping Reported Near Yurt Camps at Lake Zaisan
- Kazakh Oil Rerouted to Novorossiysk as Russia Frees Baltic Export Capacity
