Seeking to diversify Kazakhstan's economy, government officials are considering changes to the county's tax code that would aim to stimulate economic activity among small- and medium-sized businesses. While entrepreneurs would reap the most benefit from the proposed changes, the new code would significantly increase the tax burden on large energy companies.
The Mejlis, Kazakhstan's parliament, opened debate on September 8 on a comprehensive tax reform prepared by Prime Minister Karim Massimov's government. The legislature is expected to vote on the plan by early October. The basic premise of the reform initiative would be to expand the energy export tax and introduce a mineral extraction tax, and use the additional revenue to fund development of non-extractive economic sectors.
To read the full story
Alisher Khamidov is a PhD Candidate at the School of Advanced International Studies (SAIS) of Johns Hopkins University in Washington D.C.