ASTANA – President Kassym-Jomart Tokayev instructed the government further to study the value-added tax (VAT) rate issue, stating that it should be differentiated.
President Tokayev addresses domestic business representatives. Photo credit: Akorda
According to Akorda, speaking at a meeting with domestic business representatives on Feb. 7, Tokayev stressed that any changes must be based on a comprehensive analysis and a well-thought-out strategy. He emphasized the need for various options considering the specifics of the economic sectors.
He noted that the government must decide on VAT’s upper limit based on precise calculations and the opinions of qualified experts, entrepreneurs and, of course, deputies.
“One thing is clear: the rate proposed by the government was still too high. You voiced this figure. The reaction was quite sharp, sometimes too sharp, in my opinion, because it was a preliminary proposal that was subject to discussion. I emphasize that the government’s work in this area should continue, taking into account the opinions of all representatives, be it business, the public, entrepreneurs, experts. And this year we must come to a decision,” he said.
Tokayev added that the state needs optimal solutions that, on the one hand, provide favorable conditions and do not create obstacles for business and, on the other, restore order in the tax sphere and ensure an increase in budget revenues.
