Kazakhstan intends to toughen liability of private landlords
Astana, Kazakhstan, March 11
By Daniyar Mukhtarov - Trend:
It is proposed to legislatively toughen the liability of individuals who offer housing for hire and get income from this in Kazakhstan, Kazakh Minister of Economy and Budget Planning, Erbolat Dossayev said at a government meeting while presenting a complex plan for combating the shadow economy in Kazakhstan for 2014-2015.
"It is proposed to legislatively toughen the liability of individuals who offer housing for hire and get income from this. We propose to increase the amount of individual income tax and to require the registration of each of them with tax authorities," Erbolat Dossayev said.
The contribution of the sector of real estate transactions in the shadow economy amounted to 697.9 billion tenge ($ 1 - 182 tenge) in 2012, according to the minister. The main manifestations of the shadow economy in the sphere of real estate transactions are the informal sector and hidden service rendering with the aim of tax evasion," Dossayev said.
Translated by L.Z.
Edited by C.N.