Mazhilis members are now working on the development of new financial laws. One of them is the republican budget for 2017-2019 years. It is elaborated on the basis of the Budget Code and the annual addresses of the President to people of Kazakhstan. According to the chairperson of the Finance and Budget Committee Gulzhan Karagussova, the document envisages revenues of more than 4 trillion tenge and more than 3.5 trillion transfers revenue. MPs are to submit the conclusion on the draft document in a month. They will also consider adjustments to the budget for 2016-2018 years and the amount of transfers from the National Fund.

 

GULZHANA KARAGUSSOVA, MEMBER OF MAZHILIS, LOWER HOUSE OF KAZAKH PARLIAMENT:

Payments from the National Fund increased slightly during 2007-2009 years of crises. Now the President instructed to return to the original figure of the National Fund payouts which are allowed each year. We are now updating the budget for the current year, and there is a certain amount to return to the National Fund.

 

Mazhilis members approved the bill on ratification of the Convention between Kazakhstan and Serbia which avoids double taxation. From now on, one can pay taxes in one country, and the state partner will give allowance for that amount. Thus, according to the Finance Minister, additional favorable conditions for investment will be created. Certain articles of the Convention reflect the order of taxation for artists, athletes, civil servants, students, teachers and researchers living abroad.

 

BAKHYT SULTANOV, KAZAKH MINISTER OF FINANCE:

The amount of tax was 15% before the convention was adopted; now it makes up 10%. Similar conventions have already been ratified with 50 states. 27 countries are members of the OECD, 12 countries of the Middle East. It is also planned to sign similar agreements with the Baltic States.

 

MIKHAIL CHIRKOV, MEMBER OF MAZHILIS, LOWER HOUSE OF KAZAKH PARLIAMENT:

Economic relations between Kazakhstan and Serbia have remained stable for many years, and they have a tendency to further development. This was confirmed by the results of the visit of the Leader of the Nation Nursultan Nazarbayev to the Republic of Serbia. In particular, the priority areas of cooperation are agriculture, metallurgy, construction, pharmaceuticals, tourism and small and medium sized businesses. Introduced draft law would create the necessary conditions for dynamic cooperation in these and other areas.

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