Business to receive over KZT 361.3 bln as a result of tax reduction: Ministry of Finance

ASTANA. January 29. KAZINFORM /Zauresh Balkenova/ ?In accordance with the new Tax Code, entrepreneurs will receive KZT 361.3 bln that is up to 2.3% to the GDP as a result of reduction of tax rates for business?, Kazakh Minister of Finance Bolat Zhamishev has said today at the sitting of the board of the Ministry, Kazinform reports.

?Tax remissions, introduced on January 1, 2009, will free up KZT 361.3 bln for entrepreneurs that is up 12% from the volume of the national income or 2.3% to the GDP?, B.Zhamishev said. The Minister noted that amid instability in the world commodity markets and slumping sales reduced corporate tax loses its challenging role. According to B.Zhamishev, opportunity of tax reduction is considered by the governments of many countries as a measure for economy stabilization.