BAKU, Azerbaijan, Jan. 12
Trend:
An adoption of Investment Policy Concept for 2025 in Kazakhstan is planned in February of this year, Minister of National Economy Alibek Kuantyrov said at the government’s meeting, Trend reports on Jan. 12 referring to the government.
According to Kuantyrov, a number of measures are being worked out to increase revenues of the budget.
One of the measures envisages getting additional income from the mining sector and establishing a mechanism for calculating the additional amount of severance taxes for all solid minerals with reference to the price conjuncture.
Another measure envisions the withdrawal of part of the margin from the chain of producers and suppliers of petrochemicals.
"Within the Concept of Investment Policy, the investment attraction policy will be revised given the requirements of ESG (Environmental, Social, and Corporate Governance), the global energy and technological transition," the minister noted.
For further reforming of inter-budgetary relations, the ministry is working on the following proposals:
- Transfer of certain types of tax revenues to the local level since 2023 similar to the mechanism for transferring CIT (corporate income tax) revenues from small and medium-sized enterprises (SMEs).
- Minimization of counter financial flows between the center and the region.
To implement the proposed measures, a package of amendments to the budgetary legislation will be prepared. Currently, these approaches are being worked out with central and local executive state bodies, as well as organizations.