BAKU, Azerbaijan, March 15
Revenues to local budgets increased by 25 percent, the Minister of National Economy of the Republic of Kazakhstan Alibek Kuantyrov said, Trend via government press service.
"Local executive bodies for state planning are empowered to develop a methodology for forecasting revenues to local budgets. This allows the regions to forecast their income base independently, taking into account regional specifics," Kuantyrov said during the question time in the Senate.
According to him, the methodology for forecasting budget revenues has been updated, taking into account new methods for forecasting revenues, criteria for selecting a forecasting method.
"This is aimed at minimizing the deviation of the forecast of income from actual receipts. Corporate income tax from small and medium businesses (SMEs) has been transferred to local budgets since 2020. Despite the decline in economic activity, receipts to local budgets increased by 25 percent during this period," said the minister.
"This indicates the increased interest of heads of local governments (akims) in the development of local business, increasing investment and expanding the tax base. This fact is connected with the direct interest of local authorities in the development of SMEs and their withdrawal from the shadow turnover," Kuantyrov added.