Internet giants to pay VAT in Kazakhstan

AKIPRESS.COM - Foreign Internet companies will be levied VAT, according to the amendments to the taxatoin regulations passed by hte Mazhilis in the first reading, zakon.kz reported.
"The norm will not apply to local companies. Foreign Internet companies will be required to register to pay VAT," National Economy Minister Ruslan Dalenov said.
"Foreign companies are ready to pay VAT from provided services and works. We just lacked such norm," the Minister explained.
The national budget will receive around 2 billion tenge in VAT receipts. "If the volume of goods grows, the VAT receipts will grow as well," Minister Dalenov said.