The Ministry of Finance of the Republic of Kazakhstan announces a large-scale digitalization of tax benefits. The main goal of the new amendments is to make state support for business understandable, open, economically effective and efficient.
In Kazakhstan, a unified state digital database is being created - the Register of Tax Benefits, which will fully systematize information on state support measures in the form of shortfalls in budget revenues. The registry will be maintained through a dedicated baqylauda web portal. Qoldau.kz.
A single digital accounting will have a positive effect on the validity of decisions on the provision of tax benefits.
All justifications from sectoral state bodies in the need for tax benefits are transferred into digital format, and the established criteria for the purposes of applying benefits will be used by tax authorities to assess the effectiveness and efficiency of the tax benefits provided.
So, the current rules include the following criteria:
1) budget efficiency (the ratio of taxes received to the amount of tax benefits);
2) creation and preservation of permanent jobs;
3) production and export growth;
4) ratio of investments to tax benefits;
5) innovation and technological development.
At the same time, in order to understand the real benefits of each benefit, the state will use not only official state statistics, but also primary data from state and non-state digital systems. For these purposes, a special web portal baqylauda Qoldau.kz is integrated with 70+ accounting and fiscal databases and digital systems.
Thus, the process becomes controlled. The register will allow high-quality monitoring and assessment of the effectiveness of tax breaks.
Thus, the most understandable rules of the game are established for business. If in the relevant sectors of the economy entrepreneurs pay taxes, develop production, invest, introduce innovations and technologies, then tax incentives will be considered effective and efficient. Otherwise, the issue of their further provision will be revised.
At the same time, the digital register itself is exclusively informational and accounting in nature and will not create unnecessary barriers to obtaining benefits. In short, the collection of the necessary information will be completely digital and proactive - the business will not have to collect and provide certificates, extracts and other reports. All this is already collected and processed by the tax service on its own.
The Ministry of Finance of the Republic of Kazakhstan emphasizes: all innovations are a step towards Fair Kazakhstan. Citizens can be sure that taxes that are not received by the budget due to business benefits do not disappear, but are guaranteed to be invested by business in the development of the national economy in the form of investment growth, creation of new jobs, increased production and export, and increased competitiveness of national business in the face of growing tough global competition.
Innovations come into force ten days after their official publication. Taxes should work for the development of the country, and the new digital register will become the main tool for this control.