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
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