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Tax reform helped modernize Kazakhstan's economy

23 january 2012, 17:55
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Meeting of the State commission on economy modernization. Photo courtesy of flickr.com
Meeting of the State commission on economy modernization. Photo courtesy of flickr.com
Tax and administrative reforms helped modernize Kazakhstan’s economy, Kazakhstan Prime-Minister Karim Massimov writes in his Facebook.

Tax reform held by the government in 2009 was intended for modernization and diversification of the economy, as well as to get private businesses out of shade. Adoption of the new Tax Code became both strategic and stabilization measure that allowed to decrease the tax load on non-energy sectors of the economy, and small and medium businesses in particular.

The next stage of the administrative reform was launched in 2009. Its implementation included adoption of the new Budget Code, the 3-year strategic plans of the state authorities; budgeting was implemented as well. Besides, Massimov and heads of central state authorities signed a memorandum and adopted the first 3-year budget for 2009-2011 that helped timely react to changes in the situation and promptly make decisions.

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