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Kazakhstan to increase tax collection

15 June 2018 12:05

ASTANA. KAZINFORM "This year the volume of taxes will reach 17% to gross domestic product," Kazakh Finance Minister Bakhyt Sultanov told the joint sitting of the Parliament's Chambers in Astana.

"The new Tax Code, adopted last year, is aimed at sustainable business development, promotion of investments and improving competitiveness through updating the country's tax administration. This year it is planned to increase tax collection through amendments due to non-interference into entrepreneurial business and digitalization of business processes. The taxes will make 17% to the GDP. By 2025 we will take measures to achieve 25%," Sultanov said.

According to him, on one hand the flow of revenues from taxation will increase at the expense of small and medium business, on the other handб the country's budget dependence on oil and other base material sectors will decrease.