Seminar in Kostanay: tax innovations and prospects for agribusiness

Today, on August 18, a regional seminar on the implementation of the new Tax Code of the Republic of Kazakhstan was held in Kostanay. The event was attended by more than 350 representatives of the agricultural sector, small and medium-sized businesses, as well as tax specialists and consultants.

Kostanay region is one of the leading agricultural regions of the country, where a large number of farms and peasant farms are concentrated. In this regard, the key topics of discussion were tax support measures for agribusiness, changes in special regimes and the introduction of digital solutions.

The main report was delivered by Deputy Chairman of the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan Zhanybek Nurzhanov. He presented key innovations aimed at reducing the tax burden and increasing the availability of fiscal services for entrepreneurs.

Among the important changes that aroused the interest of the participants:

• Maintaining and expanding tax benefits for agricultural producers, including reduced rates and additional deductions;

• transition to a simple and understandable system of special tax regimes — now there are only three of them, with minimal reporting;

• the abolition of the single land tax, which allows for more flexibility in taking into account the specifics of land use and eases the burden on farmers;

• the introduction of remote services — mobile applications and online platforms allow you to file declarations, track the status of reports and pay taxes without visiting the state revenue authorities;

• maintaining the mechanism of additional VAT offset, with an increase in its share to 80%, which is especially important for agricultural enterprises purchasing machinery and resources;

• A new transport benefit is the exemption from tax on one pickup truck under the CAP for farms.

The participants actively asked questions related to the practical application of the new rules, the calculation of taxes at new rates, the use of digital services and the adjustment of previously filed declarations. The speakers responded to all requests, explaining that by the end of the year it is planned to issue methodological recommendations and launch training modules in the applications of the SRG.

"One of the main goals of the new Tax Code is to support small and medium—sized businesses, as well as stimulate priority sectors of the economy through a system of tax breaks," Nurzhanov said.

The seminar was part of a large-scale educational campaign that the Ministry of Finance is conducting throughout the country. Such meetings allow businesses to better navigate the new environment and confidently make plans for development.

The next seminar will be held on August 20 in Aktobe. Aktobe region.