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Kazakhstan to Adapt Taxation Due to Global Economic Condition

Wednesday 23 September 2015

ASTANA (Interfax-Kazakhstan) — Due to low global oil prices, the Kazakh government should alter the taxation system, Minister of National Economy Erbolat Dosayev has said.

In the long-term development of the global economy spanning 5 to 10 and even more years where export commodity prices will not be high and with the oil price forecast at $50 a barrel, the government must take required measures as to the taxation system so that it can be fair, he told a Tuesday briefing in Astana.

Meanwhile in 2016 the government plans to examine issues of introducing sales and retail taxes on trade and catering entities and currently the ministry is working on that together with the business community and advisers; relevant amendments are to be made to the Tax Code next year, the minister said.

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