QR Payments and Phone Transfers Could Receive VAT Break
Illustration: envato
Kazakhstan’s financial regulators have proposed extending the existing VAT exemption for payment-card services to QR payments, phone-number transfers, electronic money and digital tenge transactions, Orda.kz reports, citing the Ministry of National Economy.
The exemption was introduced when bank cards dominated cashless payments. Regulators now want equal tax conditions for newer payment methods.
The Finance Ministry, Financial Market Regulation Agency and National Bank will clarify which services could qualify and calculate the proposal’s economic impact.
Kazakhstanis currently make more than 500 billion tenge in cashless payments each day.
Read also:
Latest news
- Diamond Cheaper Than Sneakers: Confiscated Stone Sells for $47 in Almaty
- Kazakhstan Expands AI-95 and AI-98 Checks to Gas Stations and Fuel Depots
- Uzbek Professor Reportedly Detained in Astana on Espionage Suspicion
- Civil Servants to Disclose Business and Family Ties in Kazakhstan
- QR Payments and Phone Transfers Could Receive VAT Break
- Women-Only Rail Service Expands to Almaty–Tashkent Route
- Kazakhstan and Singapore Reach New Agreements
- China Could Recognize Kazakhstani Driver’s Licenses
- Kazakhstan to Review School Textbooks Over Hundreds of Errors
- New Island Emerges as Caspian Sea Levels Continue to Fall
- Refinery Finds No Problems With AI-95 or AI-98 Despite Driver Complaints
- Astana Pensioner Fined for Dropping His Pants at Prosecutor General’s Office
- Korean TV Show Denies Receiving Support From Almaty
- Tokayev Convenes First Session of Newly Elected Kurultai
- Repairs at Major Kazakh Oil Field to Begin in September
- Two Kazakhstan Refineries Report Separate Incidents in One Day
- Kazakhstan Announces Final Kurultai Election Results
- Minister Denies Kanye West Concert Setup Caused Almaty Blackout
- Camera Trap Captures Wolf Among Kulans in Kazakhstan
- State-Owned Power Plant Borrows to Repay Debt After Paying Executives 350 Million Tenge
