Kazakhstan’s President announces tax amnesty for the country’s businesses

Kazakhstan’s President Nursultan Nazarbayev has announced a tax amnesty for the country’s businesses, a Tengrinews.kz journalist reports.

“Before December 2014 the Government is expected to adopt a program to support businesses. I commission the Government to administer a tax amnesty to provide relief of all the penalties accrued as of October 1, 2014 to small and middle-sized businesses”, President said when speaking at the extended sitting of the Government today.

Earlier the country’s media reported that the Government will give relief of penalties recorded from January 2013 to January 2014. The measure had been announced by PM Karim Massimov at the 1st congress of entrepreneurs held in Astana, Kazakhstan’s capital city.

“The tax amnesty will enable businesses to channel the funds to expand their business operations. I commission Vice Minister of Finance Bakhyt Sultanov to have all the necessary amendments made into the country’s Tax Code, the PM said at that time.