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.
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”
ITIC President Daniel Witt discusses economic reform in Kazakhstan with Khabar TV.
More information is available on http://24.kz/ru/news/poslanie/item/163971-prodolzhaet-idti-vpered
ITIC President Daniel Witt talks about President Nazarbayev’s recently announced Kazakh constitutional reforms. Click here for more information.
Tax and Customs Code Unification
During a press briefing last week with visiting IMF Managing Director Christine Lagarde, Kazakh Prime Minister Karim Massimov stated that the Kazakh Government does not intend to speed up the work on unifying the Tax and Customs Codes, noting that, “We have developed a new Tax Code, which is likely to be aligned with the Customs Code. Initially we planned to have come up with concrete decisions this year, but now we have decided that we need about one year to make a final decision.”
Continue reading “Kazakhstan: Tax Update”
On 8-12 March, ITIC Kazakhstan organized a fact-finding mission for officials from the State Revenue Committee of the Kazakh Ministry of Finance. The following Kazakh officials met with officials at the Federal Tax Service of Russia to exchange information and share experiences as Kazakhstan begins implementing best practices and following OECD norms:
- Aisulu Burambayeva (Deputy Head of the Special Department)
- Aliya Alenova (Senior Expert of the Special Department)
- Agera Rakhmetova (Senior Expert of the Special Department)
- Daniyar Khassenov (Expert of the Special Department).