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Russian companies overwhelm Kazakhstan since CU

02 april 2012, 14:38
Illustration by tengrinews.kz
Illustration by tengrinews.kz
The number of Russian companies has increased by 30 percent in Kazakhstan since creation of the Customs Union, Tengrinews.kz reports citing Murat Bulgynov who heads the Indirect Taxes Department of the Tax Commission of Kazakhstan Ministry of Finance.

"Our tax legislation is very liberal. You know that VAT in Russia is 18 percent, while our VAT is 12 percent. Kazakhstan is 13th in the world for its liberal taxation. We have really favorable conditions for our tax-payers. The number of companies owned by Russian shareholders has increased. Both the range of imported commodities and the number of importers have increased. The number of Russian companies has grown 30-40 percent since creation of the Customs Union, i.e. in 1.5 years," Murat Bulgynov said.

He said that tax incomes from Russian companies have increased 1.6-fold or 60 percent and incomes from Belarus companies increased 1.5-fold or 50 percent.

Bulgynov also noted the need to simplify the documents flow. "Lots of changes have to be made. The President has instructed to reduce red tape and simplify administration in general. We are working on simplification of the reporting procedures now. Last year we decrease the number of required documents by 30 percent. We will go further this year. Most probably, the documents flow will decrease by another 30 percent," he said.

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