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Kazakh government initiates tax amnesty for businessmen

Business Materials 25 June 2014 19:51 (UTC +04:00)

Astana, Kazakhstan, June 25

By Daniyar Mukhtarov - Trend:

The government of Kazakhstan has initiated a tax amnesty for businessmen to free them from last year's penalty fees and fines, the chairman of the board of the National Chamber of Entrepreneurs (NCE), Ablay Myrzakhmetov said.

"This amnesty will allow the entrepreneurs to spend the released funds on the development and expansion of business. The amount of the fines and penalty fees is approximately $195 billion ($1= 183.49 tenge)," Myrzakhmetov told reporters on the sidelines of the first congress of the NCE.

He stressed that a large number of enterprises in the country have not been shut down over the years because of the inability to write off fines and penalties since the tax audit procedure takes a very long time.

"The tax amnesty will quickly resolve this problem," Myrzakhmetov added.

Edited by CN

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