Manipulations with the VAT would lead to an outflow of investment!
Changes to the Tax Code can lead to increased social tensions believe the experts of NCE
On August 29 of this year, the Government of Kazakhstan submitted to the Mazhilis a draft law "On amendments and additions to some legislative acts of Kazakhstan on the issues of taxation and customs administration".
After analyzing the changes, the experts of the Department of legal protection of entrepreneurs have come to the conclusion that a number of proposed rules may lead to serious problems.
For example, the draft law proposes to reduce the threshold for the registration as a VAT payer from 59.4 million tenge to 6.4 million tenge and abolish the voluntary registration as a VAT payer.
Also, the draft law proposes to set the threshold for registration as a VAT payer in the amount of 3234 MCI (the current limit is 30,000 MCI). Recall that the monthly calculation index (MCI) is 1982 tenge.
According to the State Revenue Committee of the Ministry of Finance, as a result of innovations, it is expected to have 60% increase of VAT payments (from 97 thousand to 161 thousand).
However, according to experts of the Department of Legal Protection of entrepreneurs NCE "Atameken", this information is not true, because the need for registration for VAT arises in virtually all small businesses, in addition to applying for the special tax regime on the basis of the patent (the number of entrepreneurs, applying the simplified declaration, is more than 400 thousand tenge).
Experts believe that lowering the threshold for a mandatory registration as a VAT payer would lead to a sharp increase in the number of VAT payers, increase and complicate the document circulation. In the hard conditions of the tax administration and the tax burden, it would lead to the risk of transfer of business entities in the "shadow" economy with capital mobility in the spheres of trade and mediation instead of material production.
In addition, given the low tax literacy, especially among small businesses and in rural areas, there increases the risk of errors in the calculation of tax liabilities with further imposition of penalties by the state revenue authorities. This, in turn, can contribute to the growth of social tension among small businesses.
It is also believed that exemption of the voluntary registration as a VAT payer will reduce the investment attractiveness of Kazakhstan, as the newly created legal entities, investors will not be able to register as VAT payers until the completion of the investment project and the start of its implementation (in the case of a major investor, the period from the date of registration of the legal entity to the start of the sale of its final products can last up to 5 years, during which the investor will lose the right to deduct VAT for purchased goods and services, required for the construction site).
Experts believe that the attempt to manipulate VAT in the current situation can have the opposite effect, and instead of increasing budget revenue, the tax increase will result in "shadow" economy, ruined businesses, outflows from the economy.
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Ширгалиев К.С
Кроме того, глава Казахстана поручил правительству в кратчайшие сроки подготовить план мер по обеспечению экономического роста в среднесрочной перспективе.
Данная инициатива Правительства и в случае принятия Парламентом, идут в разрез с поручением Нашего президента.