Kazakhstan's Vice Minister of Economy Discusses Possible VAT Rate Changes
Photo: RK Govermnet Press Service
Vice Minister of Economy Bauyrzhan Omarbekov suggested lowering VAT rates on food products during a meeting with entrepreneurs in Aqtau, Orda.kz reports, citing the Cabinet of Ministers.
The proposed reduction aims to help control prices for food and essential goods.
Business representatives at the meeting emphasized the importance of consulting with the business community on any tax policy changes.
This announcement comes in the same week as the Cabinet of Ministers' proposal for a new differentiated VAT system, including a general rate of 16%, an intermediate rate of 10% for specific sectors, and a VAT exemption for agricultural producers.
Previously, President Toqayev disapproved of the proposal to increase VAT to 20% and directed the government to analyze the issue further.
Original Author: Raushan Korzhumbekova
Latest news
- Kazakhstan’s First Tagged Eurasian Black Vulture Found Dead in India
- Kazakhstan Replaces Russian Turbines With Chinese Equipment for Ekibastuz Power Plant No. 2
- How Kazakhstan, Uzbekistan, And Azerbaijan Will Export Electricity To Europe
- Kazakhstan Explains How Russians Who Fled Mobilization Can Be Deported
- Kazakhstan and Japan discuss hydrogen partnership with export potential
- Russia Thanks Tokayev for Initiative to Support Russian Language
- Almaty Could Restrict Cars Under Beijing-Style Anti-Smog Plan
- Tigers in Kazakhstan Are in No Rush to Breed
- What Changes Are Being Prepared Under the New Tax Code
- Alcohol and Tobacco Prices in Kazakhstan See Sharpest Monthly Rise in 15 Years — Analysts
- Middle East Conflict Will Not Lead to Higher Gasoline Prices in Kazakhstan — Minister
- Five Regions of Kazakhstan Face Higher Flood Risk This Spring
- Kazakhstan Ratifies Turkic States Civil Protection Deal
- Astana Enters Top 100 Safest Cities as Smart City Project Expands
- Almaty Cameras to Record New Driver Violations Starting March 12
- Kazakhstan Suspended 11 Polling Stations Abroad Due to Middle East Escalation
- Kazakhstan’s Foreign Ministry Comments on Disappearance of Citizen After South Korea Factory Fire
- ChatGPT Among AI Tools Recommended for School Lessons in Kazakhstan
- Missing Kazakh Woman Found in Vietnam Four Days Later
- Seven-Year-Old Kazakh Girl Returned From Georgia Following Six Months of Diplomatic Efforts
