During the opening session of Kazakhstan’s Parliament on 4 September 2017, Kazakh President Nursultan Nazarbayev devoted a large part of his presentation to the challenges facing Kazakhstan’s economy, achieving investment-led growth, and the role of fiscal policy in consolidating recent improvements in GDP growth. He also referenced the new draft Tax Code, which seeks to eliminate ineffective incentives and preferences while diminishing the shadow economy and simplifying tax administration. Continue reading “Kazakhstan Tax and Investment: Fall 2017”
On 25 August, during the Eurasian Week Forum held at EXPO-2017 in Astana, ITIC and the Eurasian Economic Commission (EEC) signed a Memorandum of Understanding (MoU) that establishes a framework for cooperation for research, professional dialogue, and educational exchange. Continue reading “ITIC Signs MoU with the Eurasian Economic Commission”
Last week, I was honored to participate in the Eurasian Week Forum, an annual event aimed at the development of the Eurasian Economic Union’s (EAEU) economy, investment and export potential, during my visit to Astana, Kazakhstan for EXPO-2017. The Forum served as an effective platform for developing business-to-business contacts, discussing tools and conditions for business development in the EAEU, and elaborating the strategy of EAEU economic development in the context of global challenges.
Representatives from ministries of finance, tax administrations, academic institutions, and the private sector gathered in Paris on 26-28 June 2017 for ITIC’s 13th annual Eurasia Tax Forum. The themes for this year’s Forum were recommended by regional officials and investors, and they included the following:
- Tax Reform: Principles in Practice
- Continuity and Change in International Tax
- Taxation of the Digital Economy
- The State of Play in Energy Investment
- Natural Resources Taxation in Eurasia
- Tax Issues in the Services Sector
ITIC was pleased to join 150 high-level representatives (from IOTA member states, international organizations, businesses, and academic) at the 21st annual General Assembly of the Intra-European Organisation of Tax Administrations in Kiev, Ukraine on 28-30 June 2017.
New procedures for the handling of audit and disputes arising came into effect 1 July 2017. Certain categories of taxpayer can now obtain a “preliminary” tax audit ahead of the finalized audit act and have the right to object in writing to the findings of such “preliminary” audit. Continue reading “Kazakhstan’s Tax’s System: Reform of Dispute Procedures”
The Finance and Budget Committee of the Majilis (Kazakh Parliament) convened a roundtable discussion last week to examine the latest Draft Package of the New Tax Code. The roundtable was moderated by Gulzhana Karagusova, Chair of the Finance and Budget Committee. Continue reading “ITIC Participates in Kazakh Parliamentary Tax Roundtable”
In a recent article for the Intra-European Organisation of Tax Administrations (IOTA), Azeri Minister of Taxes Fazil Mammadov analyzed the new challenges faced by Azerbaijan’s Tax Service due to sluggish global growth and its negative impact on resource economies. He depicted Azerbaijan’s response in terms of developing a sustainable national economy.
Source: 2017 Index of Economic Freedom, Interactive Heat Map (The Heritage Foundation)
On 15 February, the Heritage Foundation published its annual report entitled, 2017 Index of Economic Freedom, comparing the performance of 186 economies. One key factor influencing the conclusions and rankings is the Tax Burden parameter of the Government Size performance measurement criterion. Continue reading “2017 Index of Economic Freedom”
Investors are showing a renewed interest in the post-Karimov reform agenda in Uzbekistan, the guidelines for which have been detailed by President Mirziyoyev in several recent decrees and the implementing instructions of 14 February 2017. His decree of 7 February “on the Action Strategy for the Further Development of the Republic of Uzbekistan 2017-2021” and the related documents may be accessed here. Continue reading “Uzbekistan Reform Agenda”