Kazakhstan to transit to declaration of income & property of citizens - PM
12:57, 19 October 2009
ASTANA. October 19. KAZINFORM. /Kanat Kulshmanov/ The next step in the tax reform will be a staged introduction of overall declaration of income and property of Kazakhstan's citizens. Kazakh Prime Minister Karim Massimov announced it at the extended session of Nur Otan Party's faction in the Majilis of the Kazakh Parliament in Astana today.
"According to the expert estimates, the share of shadow incomes exceeds KZT 1 trillion assuming that the individual income tax in Kazakhstan is one of the lowest in the world - 10%", K. Massimov said.
According to him, declaration of incomes and property will allow to decrease corruption and increase budget revenues.
"At present the Government completes the development of a plan on staged transit to overall declaration of incomes and properties of natural persons. Soon it will be submitted for consideration of the President", K. Massimov added.