When will Government make final decision on VAT rate increase

Deputy Prime Minister – Minister of National Economy Serik Zhumangarin unveiled the Government’s plans to revise VAT rates in Kazakhstan, Kazinform News Agency reports.

VAT, Kazakhstan
Photo credit: Kazinform

At a briefing after the Cabinet’s extended meeting, Zhumangarin was asked when a final decision on the VAT rate would be announced.

“February 15-20 are probably approximate dates. I think this is the deadline for going to the Parliament with this bill,” he said.

Prior to this, the Ministry plans to continue discussing the issue with business communities and deputies, he added.

Earlier, in Astana, President Kassym-Jomart Tokayev chaired an extended meeting of the Government.

Addressing the meeting, Prime Minister Olzhas Bektenov proposed to increase VAT rate. The Government also proposed to reduce VAT thresholds from 78 million tenge to 15 million tenge. 

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