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Kazakhstan records decline in customs revenue from China’s commodity imports

10 March 2020 10:40

NUR-SULTAN. KAZINFORM «The public revenues (transfers not included) have been executed by 97.3% to the target of the accounting period,» Kazakh Finance Minister Alikhan Smailov told the Government meeting.

According to him, the following external factors affected the incomplete execution of the republican budget. First of all, the coronavirus emerged in China at the close of 2019 adversely affected the import VAT revenues (performed - KZT 173 bln, targeted - KZT 262 bln, executed - up to 66.2%). In particular, the imports from China dropped by 11% this February against last February.

As a result, customs revenues and customs taxes from imports of goods from China decreased by 12% or by KZT 2.1 bln (from KZT 17 bln in last February to KZT 15 bln in February 2020).