Tax administration digitalization to ensure revenues of nearly $5B to Kazakh budget
Baku, Azerbaijan, August 8
By Nargiz Sadikhova - Trend:
Digitalization in the framework of tax administration has reduced tax audits by nine percent and increased budget revenues of Kazakhstan by almost 20 percent, said the First Vice Minister of Finance of Kazakhstan Berik Sholpankulov, Trend reports with reference to the press office of the prime minister of Kazakhstan.
The statement was made during the press conference in the Government.
According to Sholpankulov, one of the ministry’s priority tasks is to reduce the shadow economy to the level of Organisation for Economic Co-operation and Development countries, i.e. to 15-17 percent of GDP.
Kazakhstan is working to remove small and medium-sized businesses from the “shadow” by improving the tax and customs policy and increasing the share of cashless transactions, read the message. The work is based on the digitalization of tax and customs administration, the integration of information systems.
“The measures on digitalization already have had a positive effect in the form of a reduction in tax audits and an increase in budget revenues,” Sholpankulov said.
As expected, the digitalization of tax and customs administration will provide additional revenues to the budget over the next three years in the amount of 1.9 trillion tenge ($4.9 billion), including 520 billion tenge in 2019, 623 billion tenge in 2020 and 750 billion tenge in 2021.
Along with this, measures are being taken to increase the volume of non-cash forms of settlements of the population and business. The issues of stimulating the implementation of real estate transactions in non-cash form, the introduction of an electronic taxpayer wallet to simplify tax payments, as well as the prohibition on the deduction of deductions of paid expenses in cash of more than 1,000 MCI are considered.
(1 USD = 387.45 KZT on August 8)
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