Kazakhstan Finance Ministry Legalizes 348,000 Citizens Amid Tax Reform
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Kazakhstan's Finance Ministry reports the legalization of 348,000 citizens following a tax reform. The number of business entities, including self-employed, increased by 200,000. This development comes as the government seeks to expand its economic base.
Tax Reform Impact
The Finance Ministry of Kazakhstan announced that the recent tax reform has led to the legalization of approximately 348,000 citizens who were previously unregistered. Finance Minister Madi Takiev stated that the number of business entities, including self-employed individuals, has reached 2.7 million, marking an increase of over 200,000 since the beginning of the year. This expansion is seen as a significant enhancement of the country's economic base.
Financial Administration Improvements
Minister Takiev highlighted that improvements in tax and customs administration have generated an additional 137.6 billion tenge. As part of the 'Clean Slate' initiative, businesses have settled principal debts amounting to 11 billion tenge. Additionally, penalties and fines totaling 7.7 billion tenge were waived for 17,000 small and micro-business entities.
What's Next
The government is expected to continue monitoring the reform's impact on the economy. It remains uncertain how these changes will affect long-term economic growth.
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Kazakhstan Finance Ministry Legalizes 348,000 Citizens Amid Tax Reform
