Kazakhstan Suggests to Deprive Unfair Investors of Guarantees
Kazakhstan, Astana, 25 July/ Trend , K. Konirova/ The Ministry of Finance of Kazakhstan suggests to deprive unfair investors of guarantees and preferences granted them earlier in line with a law, Daulet Ergojin, the deputy finance minister said to Trend in Astana on 25 July.
"I suggest focusing on the world practice which deprives investors who do not pay taxes and violate legislation, of guarantees," Ergojin said while addressing the international Scientific and Practical Conference on Urgent Problems in Law Enforcement Practice on Taxation of Investors in Astana.
According to Ergojin, today Kazakhstan faces several problems in the sphere of taxation. "The first is the fact that the tax burden is different and meets neither international practice nor legal system of Kazakhstan. It is inadmissible and it should be addressed through changes to the legislation," Ergojin said.
According to deputy minister, the second problem is that it is high time for Kazakhstan to keep away from being overtaking state and to adopt tough decision in line with a law.
"I think, the further functioning of today's taxation system for the most important spheres is built on the principles of the previous century which are almost equal to the voluntary formula of 'mirror in exchange for gold'," Ergojin said.
According to deputy minister, the increase in taxation for the raw materials sphere 'is not indirect expropriation, but securing balance of interests'.
About 400 contracts have been signed in Kazakhstan so far on the development of fields, some 100 of which were either violated or the obligations were not fulfilled.
During the first half-year of 2008, as a result of the check-ups in the large oil companies, taxes worth over 15.5bln tanga were charged to the public budget of Kazakhstan and fines worth 5bln tanga were imposed.
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