VAT increase: amendments submitted to Parliament

Tengrinews.kz – Amendments to the draft Tax Code have been submitted to the Mazhilis of Parliament. The information was confirmed to our correspondent by the Ministry of National Economy.

A package of amendments to the draft Tax Code was submitted to the Mazhilis on February 20.

"Amendments have been made to:

lowering the threshold for mandatory VAT registration from 20 thousand MCI (78.6 million tenge) to 3800 MCI (15 million tenge);

increasing the VAT rate from 12% to 16% with the establishment of a reduced rate of 10% for certain industries;

extending the special tax regime (STR) of the simplified declaration only to the B2C segment," the report says.

On February 11, Prime Minister Olzhas Bektenov instructed to submit draft amendments to the Tax Code to the Mazhilis by February 20.

Tax reform in Kazakhstan

Earlier, the government of Kazakhstan proposed to set VAT at 20%, but after the President spoke about the situation, it was decided to consider a differentiated VAT rate: 16%, 10%, 0%.