- Improving the effectiveness of budget policy;
- Improvement of tax legislation;
- Strengthening of investment attractiveness;
- Development of entrepreneurship.
To ensure stability of the parameters of state finances, the Government will maintain consistency in the application of budgetary rules and medium-term targets. In order to increase revenue receipts, measures will be taken to increase tax yield through improved tax administration, digitalisation, reduction of shadow economy, increase of taxable base, reduction of inefficient benefits," the Minister said.
The Head of State has set a number of tasks on fiscal policy that need to be solved, including within the framework of the draft Tax Code. His draft proposes the application of compulsory collection measures depending on the size of the debt. Scheduled tax audits are also excluded. Provision is made for granting a deferment/extension of time in the presence of debt in the amount of about 5 million tenge," Nurlan Baibazarov emphasised.
- establishment of differentiated rates of individual income tax;
- fair additional taxation of dividends from shareholders of the banking sector;
- increasing the effectiveness of tax incentives;
- optimisation of tax regimes without worsening favourable conditions for entrepreneurs;
- total digitalisation of tax administration, abandoning its punitive approach;
- introduction of a VAT administration mechanism using a digital tender.
By analogy with the Investment Headquarters, Regional Investment Headquarters will be established in each region under the leadership of akims, which will include heads of MIO, regional representatives of Kazakh Invest, NPP "Atameken", FEZ and IZ, prosecutor's office, tax authorities. This will make it possible to promptly solve investors' problems on the ground on a "here and now" basis. This approach will be reflected in the updated Investment Policy Concept until 2029. At the same time, for targeted work on attracting investments, ‘orders for investments’ will be formed on the basis of Regional Investment Programmes, taking into account the needs and competitive advantages of regions and local businesses," the speaker stressed.
The Head of State has set a task to increase the share of medium-sized businesses in the economy to 15 per cent by 2029. Today, work is underway to create conditions for the development of medium-sized businesses through the transformation of state incentives. The more competitive an enterprise is, the more support measures it can receive. The necessary methodological base has been prepared, where support measures are differentiated depending on the category and level of competitiveness of the business. One of the tools for growth will be a special agreement for the most competitive SMEs, which will be provided with service support and the necessary set of state support," the Deputy Prime Minister explained.
The above measures will ensure the formation of competitive small and strong medium-sized businesses, contributing to the growth of the national economy," Nurlan Baibazarov summarised.
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