Once again about the sales tax

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The Ministry of National Economy considered that the preservation of VAT - is the best option

How effective is the sales tax instead of VAT and whether it will create new problems? The topic was touched upon today during the tax conference in Astana, by the Minister the National Economy Kuandik Bishimbayev. He noted that VAT in Kazakhstan – is "one of the smallest in the world". "That is, we collect small amount of VAT from the point of view that we have the highest threshold and we provide so many benefits", - said the Minister.

Kuandik Bishimbayev pointed to problems of VAT collection.

"Significant budget losses in connection with the application of various schemes, which are illegally created for the purpose of VAT refund, the existence of a large number of benefits, high administration costs, gaps , which enable corruption during VAT refund", - said the head of the MNE. According to the Minister, the amount of the various benefits provided for VAT is around 1.4 trillion tenge".

Referring to the discussion on the feasibility of replacing VAT with a sales tax, the Minister added: "We do not support the cascade method of introducing a sales tax, we consider this tax more as a additional one. The proposal and the position of our Ministry - still remain within the VAT and continue to improve the system of collection and administration of taxes. "At the same time, according to Kuandyk Bishimbaeva, "in recent years we find understanding, including among our colleagues from SRC and other relevant bodies that probably it makes sense to think about it carefully".

As part of the upcoming changes in tax legislation, the improvement revenue taxation is expected. Commenting on this issue, the Minister recalled that "the tax burden in Kazakhstan, compared to other countries, is one of the lowest; CIT rate is about 20%". "In this regard, we pose the question about the optimization of existing tax regime, there are many of them. The essence of what we want to offer - is that upon lowering of the threshold for registration as a VAT payer, we want to bind to it the threshold for simplified declaration regime", - said the head of MNE.

Kuandik Bishimbayev added that the final version of the scheme will be adopted at the meetings of the working group.

Zhanar Serdalina