Tax rates in new Tax Code to be determined based on product complexityThe draft of the new Tax Code provides for different rates for enterprises producing raw materials and high-value products, Prime Minister of Kazakhstan Olzhas Bektenov said.“In the draft of the new Tax Code, tax rates will be determined depending on the complexity of the product. If an enterprise produces high-value products, the tax rates will be lower, and if they produce raw materials, the tax rate will be higher,” Bektenov said at a government meeting on Tuesday.As the press service of the Ministry of National Economy told Interfax-Kazakhstan, they referred to corporate income tax (CIT).Such tax system will lead to the development of production.Bektenov added that in 2024, 180 manufacturing industry projects will be introduced as part of the industrialization map, instructing relevant departments and regions to “ensure the timely commissioning of these projects.”“All emerging issues from investors must be resolved promptly, without unnecessary red tape. The Investment Headquarters operates specifically for this purpose,” the head of the Cabinet emphasized.Bektenov instructed the Ministry of Industry and Construction and the Baiterek national holding to work on the issue of preferential financing of projects for the production of import-substituting building materials.Earlier, the Prime Minister of Kazakhstan instructed to complete the development of a new Tax Code by the end of 2024. According to him, the Kazakh authorities abandoned the idea of increasing the value added tax (VAT) from 12% to 16%.The new tax code is due to come into force in 2025. (ICE ALMATY)

Fonte notizia: INTERFAX