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
- Construction of a New Thermal Power Plant Begins in Semey
- Plane Hits Dog While Landing in Shymkent
- Kazakhstan to Train White Hat Hackers and AI Engineers to Protect Energy Infrastructure
- Middle East Conflict Puts Kazakhstan-Iran Joint Projects on Hold
- Kazakhstanis’ Spending on Pet Treatment Has Nearly Tripled
- Kazakhstan and the UK to Develop Rare Earth Metals Cooperation
- Moldova Sets Date for Formal Exit From the CIS
- Kazakhstan Ratifies Amendments to Legal Assistance Conventions
- South Korea to Import Oil From Kazakhstan, but Saudi Arabia Remains the Main Supplier
- Kazakhstan Remains Vulnerable to Mudflows, Deputy Says
- Russia and Azerbaijan Agree on Compensation After AZAL Crash Near Aktau
- U.S.-Kazakhstan Talks in Washington Focus on Economy and Regional Issues
- Kazakhstan Khalkyna Foundation Expands Support for Healthcare, Education and Sports
- Former Massimov Son-in-Law Loses Terminal at Dostyk Station
- Bathing in the Pond and Damaging Trees: Almaty Botanical Garden Tightens Rules After Vandalism
- Kazakhstan Announces Launch of New Political Party Adilet Ahead of Kurultai Elections
- Government Decides Fate of Hundreds of Thousands of Hectares of Former Semipalatinsk Test Site
- Deputies Want Firefighters Given Power to Break Through Barriers and Blocking Cars
- Kazakhstan to Create National Rating Agency
- Less Than 1% of Employees in Kazakhstan Work Remotely
