SMEs in Kazakhstan to be freed from income taxes and checks for 3 years from Jan. 2020

AKIPRESS.COM - Micro and small business entities from January 1, 2020 will be exempted from income taxes and from checks for a period of 3 years by the order of President of Kazakhstan Kassym-Jomart Tokayev, Prime Minister Askar Mamin said at the government session on December 3.
The PM instructed the Ministry of Finance to take all necessary measures to ensure the high-quality implementation of the final plan for budget revenues with an emphasis on controlling areas with a high level of risk.
The ministries of agriculture, internal affairs, justice, all state bodies and akimats, the Government for Citizens corporation were instructed to complete the updating of the databases by April 1, 2020.
Mamin noted that as a result of state support and zeroing of debts to taxpayers, bank accounts were unblocked and restrictions imposed on property were lifted, which would allow continuing business activities.
According to the results of 10 months of 2019, the growth rate of revenues to the state budget amounted to 14%, which is 911 billion tenge more compared to the same period last year.
A number of digital projects are being implemented, such as information systems ASTANA-1, E-window, Electronic Invoices, Virtual Warehouse, Risk Management System, which will optimize the process, speed up and increase the transparency of tax and customs operations.
As a result of digitalization of the systems of state revenue bodies, the budget additionally received about 520 billion tenge.