Business news in brief

Businesses in Kazakhstan must switch to using cash registers with online-transmission functions by the end of 2019 as a result of tax changes taking effect this year. As of 2019, Kazakhstan has changed the regulations for legal entities to pay taxes. Over the course of the year, every three months, 633 types of activity (online mode) will be transferred in stages to the mandatory use of cash registers: 323 types from April 1, 86 types from July 1, and 224 types from October 1, according to Informburo.

Kazakhs make up to 100,000 payments through QR codes every month, and the number is growing, credit card company Visa said in a recent statement. Because of this trend, Visa plans to expand the range of QR-code operations available in Kazakhstan. Also, according to their statement, the share of cashless operations in Kazakhstan continues to grow to 35 percent per year on average. In Kazakhstan, the total monthly volume of transactions is now 600 billion tenge for all payment systems.

Beeline Kazakhstan will start issuing virtual payment cards. According to Profi.kz, the operator has noted the growing interest among Kazakh users in such services. The number of users of the MFS for the year increased by 92 percent and reached 1 million people. Such explosive growth allows the company to hope MFS users will double this year. The next goal for the operator is virtual cards. Beeline has already submitted the relevant application to Visa and expects to become the first company in Kazakhstan to receive a BIN from Visa to issue its own virtual cards. Beeline also intends to develop its own payment organisation, Kazevromobayl, which already has a general director.

By 2035, Kazakhstan’s air transportation market will double, according to dknews.kz. According to forecasts by international aviation industry experts, by 2035, the air transportation market of Kazakhstan will have doubled, which will require the involvement of additional personnel and young professionals. In order to form a personnel reserve of domestic civil aviation specialists, the Civil Aviation Committee of Kazakhstan’s Ministry of Industry and Infrastructural Development is working to stoke public interest in aviation issues in Kazakhstan.

Kazakhtelecom held negotiations with minority shareholders on March 18, 2019, profit.kz reports. The minority shareholders are demanding to repurchase shares due to their disagreement with the decision of the board of directors to conclude a major transaction: acquiring 75 percent of shares of public-private company Kcell. According to Kazakhtelecom CFO Askar Uzbekov, when repurchasing shares, the company plans to apply a ratio that reflects the ratio of net income for 2018 to net income of the company for 2017 on a consolidated basis. At the same time, the number of minority shareholders of Kazakhtelecom JSC that agree with the transaction on the acquisition of shares of Kcell JSC exceeds 16,000.

In 2019, Kazpost will launch deposits for legal entities and accept payments for goods from Amazon, Kazpost Chair Saken Sarsenov announced, according to LS. The company’s priorities for 2019 include the opening of a bonded warehouse at Khorgos, the development of transit and e-commerce, and building a franchise network. Currently, according to Sarsenov, the company cooperates with 57 online stores in Kazakhstan. This year, the company plans to attract another 80 and increase the storage of goods for shipment in Kazakhstan and abroad.

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