The minister promised to cut tax inspections by a third

In 2017, the number of tax inspections will be reduced by 37.5 percent. This was announced by the Minister of Finance of Kazakhstan Bakhyt Sultanov at a joint session of the Parliament chambers of RK, presenting the Government’s report on the execution of the republican budget for 2016, the correspondent of MIA Kazinform reports.

“For the effectiveness of this work, we must create favorable conditions for business, while maintaining a high tax return. There is a saying – there are no expenses without income. Therefore, the increase in tax revenues will take place against a reduction in tax inspections. For example, this year the inspections will be reduced by 37.5 percent. In addition, the project of new Tax Code provides for the exclusion of 56 percent of the standards that are сcurrently the basis for inspections. As a result, 14 norms will remain in place of the current 32, “B. Sultanov said.

According to the Minister, in tax audits, approaches based on the principles of trust, transparency and mutually beneficial cooperation are being introduced – horizontal monitoring. Further informatization of tax administration will also affect the reduction of tax inspections.

  1. Sultanov also said that it is planned to revise the tax preferences to reduce the number of ineffective benefits. Within the framework of legislation humanization, it is also planned to introduce corresponding amendments to the Code “On Administrative Offenses”. The most important point of these changes is a reduction in the volume of administrative fines and the widespread use of the institution of prevention instead of punishment. The minister also named the figures for the revenues and expenditures of the republican budget.

The budget revenues reached 7.7 trillion tenge, 1.5 trillion tenge more than the indicator of 2015. Of these, transfers account for 30 percent. Expenses are disbursed for 98.3 percent, or are executed with growth of 1 trillion 338 billion tenge. More than half of the expenditures, or 4 trillion tenge, are directed to the social sphere.

Source: KazInform