Budget of Kazakhstan to lose 200 billion tenge due to tax release | Eurasia Diary - ednews.net

19 November, Tuesday


Budget of Kazakhstan to lose 200 billion tenge due to tax release

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The state budget of Kazakhstan in 2020 may lose more than 200 billion tenge ($518.9 mln) due to cancellation of the profit tax for micro and small businesses, Deputy Prime Minister — Minister of Finance Alikhan Smailov said, AkiPress reports.

"A total of about 190 billion profit taxes have been paid last year from micro and small businesses. In 2020, if we deprive these companies and individual enterpreneurs of tax, budget will lose more than 200 billion tenge. But we plan to compensate these losses by improving tax and customs administration," Smailov said following the government session.

The President Kassym-Jomart Tokayev in his address to the nation ordered to free all micro and small businesses from taxes.

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