Kazakhstan’s Ministry of National Economy will develop new Tax and Customs Code
This year, Kazakhstan’s Ministry of National Economy will develop new Tax and Customs Code. This was announced by the Minister of National Economy Timur Suleimenov. So, the first document includes challenges in increasing the attractiveness of basic industries, as well as the elimination of inefficient tax benefits. The second document will imply reduction of the terms of the customs declaration and administrative barriers. Standards of the EAEU Customs legislation will be taken into account in the new edition.
TIMUR SULEIMENOV, KAZAKH MINISTER OF NATIONAL ECONOMY:
We plan to develop the documents and to submit to the government until this summer. After that, the documents will be worked out and submitted to the Parliament to fall session. The President set the task to adopt the subsoil code and the corresponding amendments to the tax legislation. Therefore, the task is to adopt till the end of the year. Relating the Customs Code the terms are the same.
Also the minister stressed that some parameters of branches development for 2017 were revised. So, the main drivers of the economy in addition to traditional areas will be the country’s manufacturing and transit potential. By the way, this year the Ministry of National Economy expects GDP growth at the level of 2,5%.