KAZAKHSTAN: the President's message of September 1, 2023 concerned the optimization of accounting and taxation

We introduce the 7 most significant points, which President Kasym-Zhomart Tokayev tasked the Government:

1. Simplification of the VAT refund procedure
2. Reduction of tax return forms by 30% and reduction of tax types by 20%
3. Reduction of tax benefits by 20%
4. Exemption of the manufacturing industry from taxes and payments for the first 3 years
5. Implementation of a service model of interaction between the tax authority and entrepreneurs based on the principle: do not punish, but warn about violations
6. Expanding the scope of Retail Tax by 2 times
7. The minimum wage to be increased by 15000 tenge from January 1, 2024 and the increased rate will be 85000 tenge

We are aware of all the updates on accounting, tax, personnel records, as well as the legal sphere and help the Client’s business to adapt in a timely manner.

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Article is prepared by Ekaterina Kassumova,

Director of FChain Kazakhstan