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Kazakhstan eyes increasing tax rates for foreign carriers

Kazakhstan Materials 10 November 2021 18:20 (UTC +04:00)
Kazakhstan eyes increasing tax rates for foreign carriers

BAKU, Azerbaijan, Nov. 10

Trend:

Kazakhstan plans to increase tax rates for foreign carriers, Mazhilis (Lower chamber of the parliament) deputy Sergey Simonov said, Trend reports.

According to the information, such measures are provided for in the draft law "on Amendments and Additions to the Code of Kazakhstan "On Taxes and Other Mandatory Payments to the Budget "(Tax Code) and the Law Kazakhstan "On the Enactment of the Code of Kazakhstan on Taxes and Other Mandatory Payments to the Budget (Tax code)".

"The draft law proposes to exclude from the Tax Code the norms on the VAT control account used when refunding excess VAT," Simonov said, presenting the draft law at a plenary session of the chamber.

According to Simonov, such a decision was made following the results of a pilot project carried out by the Ministry of Finance, which showed its inefficiency.

In addition, the bill proposes to increase the collection rates for foreign carriers for the passage of foreign vehicles carrying passengers and goods in international traffic on the territory of Kazakhstan, from 20 to 30 MCI (Monthly calculation index), to determine the criteria for the risk management system at the level of a bylaw, as well as replace the term ‘excise stamps’ in the part of tobacco products with the term ‘means of identification’.

Earlier it was reported that Kazakhstan plans to introduce a simplified procedure for VAT refunds when exporting goods by business entities.

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