Senate of Parliament of Republic of Kazakhstan Amends Tax Code

A meeting of the Senate of the Parliament of the Republic of Kazakhstan headed by Speaker Maulen Ashimbaev took place today.

The senators considered the draft Law on Amendments and Additions to the Code of the Republic of Kazakhstan on Taxes and Other Obligatory Payments to the Budget (Tax Code) and the Law of the Republic of Kazakhstan on the Enactment of the Code of the Republic of Kazakhstan on Taxes and Other Obligatory Payments to the Budget (Tax Code).

The law provides for the improvement of the tax policy to simplify the procedure of doing business in the country and attracting investments. In particular, to support the sector significantly affected by the pandemic, it is proposed to exempt small and medium-sized businesses from VAT and social tax for two years. The law also introduces a retail tax of 3% on income. Another important amendment was the postponement of tax payments after the early withdrawal of part of pension savings.

Photo: http://senate.parlam.kz/