BAKU, Azerbaijan, April 12. Kazakhstan’s Deputy Prime Minister, Finance Minister Yerulan Zhamaubayev named the factors for exceeding the plan for budget revenues in the first quarter of 2022 during the governmental meeting, Trend reports via the government.
“The factors for exceeding the corporate income tax plan were an increase in the amount of declared advance payments of 653 large taxpayers by 211 billion tenge ($470 million) or 83.5 percent in the 1st quarter of this year compared to the same period of 2021, and ongoing tax administration measures in relation to large mining-metallurgical companies,” Zhamaubayev said.
In general, as a result of the administration of subsoil users, an additional 288 billion tenge ($640 million) was transferred to the budget, of which 29 billion tenge ($64 million) was due to the collection of additional amounts accrued following the inspection reports.
The plan for the online sales of crude oil was exceeded mainly due to the increase in the rate for crude oil by 33 percent, as well as the depreciation of the tenge against the US dollar in the 1st quarter of this year.
“The gambling business tax plan was exceeded due to the repayment of debts under tax audit reports. The exceeding of the severance tax plan was affected by an increase in prices for the main export items by an average of 20 percent in the 1st quarter of this year compared to the same period in 2021,” concluded Zhamaubayev.