Kazakh Government offers to exempt online entrepreneurs from taxes

Kazakh Government offers to exempt online entrepreneurs from taxes

The value and share of e-commerce increased more than one and a half times in the retail sales, said Kazakh Prime Minister Askar Mamin at a Government meeting.

“Nowadays the e-commerce is dynamically developing in Kazakhstan in line with global trends, especially during the pandemic,” he noted.

He said that this market share has great prospects and has a multiplicative effect on the economy’s related fields such as logistics, courier services, digital services and labor market.

“We have a task to take effective measures that will simplify e-commerce procedures, make financing available, increase confidence to make deals via Internet and counteract cybercrime,” commented Askar Mamin.

He offered to exempt online entrepreneurs from taxes to stimulate this direction. In particular, he offered to support amendment to the criteria in the Tax Code on exemption from corporate and personal income taxes for individual entrepreneurs if income from an activity is at least 40 percent of the total annual income.

“To stimulate the use of non-cash payments, it is necessary to work out together with the National Bank the issues of reducing the commission for interbank transfers, acquiring as well as developing new non-bank payment systems,” the minister added.

 

Photo: kp.kz