A field seminar was held in Ulytau region to explain the norms of the new Tax Code

As part of the systematic work of the Ministry of Finance of the Republic of Kazakhstan to clarify the provisions of the new Tax Code, a field seminar was held in Zhezkazgan with the participation of Deputy Chairman of the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan Zhanybek Nurzhanov. The event was held at the site of the regional branch of the AMANAT party with the assistance of the regional representative office of the Atameken National Chamber of Entrepreneurs.

The purpose of the seminar was to inform the business community of the key changes in tax administration provided for by the new Tax Code, as well as to form a common understanding of the upcoming transformations and their importance for the sustainable development of business and the economy as a whole.

Ulytau region is a strategically important industrial region, where the leading enterprises of the mining and metallurgical sectors are concentrated. Large taxpayers, such as the Kazakhmys Corporation and the Zhairemsky Mining and Processing Plant, play a significant role in shaping the revenue side of the budget. Taking into account the peculiarities of subsurface use and the resource base of the region, special attention was paid during the seminar to the issues of taxation in the field of mining and interaction with large businesses.

In their speeches, representatives of the State Revenue Committee presented in detail the conceptual approaches provided for in the new Tax Code, focusing on such aspects as:

• Improvement of the value added tax administration procedure;
• Introduction of differentiated corporate income tax and VAT rates;
• Digitalization of tax procedures and strengthening of analytical tools;
• optimization of reporting and tax benefits system;
• Modernization of taxation of non-residents and subsurface users.

The changes under discussion are aimed at increasing the transparency, efficiency and fairness of the tax system, as well as strengthening the dialogue between the state and business.

The State Revenue Committee will continue to work on informing taxpayers about changes in tax legislation and ensuring an open dialogue with representatives of the business community.

The next seminar will be held on August 13 in Petropavlovsk, North Kazakhstan region.