The Ministry of Finance of the Republic of Kazakhstan persists in convening discussions with businesses across the regions to examine the stipulations of the new Tax Code. This time, a delegation from Astana, led by the Minister of Finance of the Republic of Kazakhstan, Madi Takiyev, visited Atyrau Region. The region was chosen deliberately. In 2023, Atyrau Region accounted for 24% of the total industrial output of the country. Furthermore, the region holds a leading position in the national ranking for attracting investments.
The taxation of the oil sector was deliberated in Atyrau during a meeting with representatives from both international and domestic oil companies, along with entrepreneurs from Atyrau, Aktobe, Mangystau, West Kazakhstan, and Kyzylorda regions. The Minister of Finance of Kazakhstan, Madi Takiyev, the Vice Minister of National Economy, Azamat Amrin, and the Deputy Chairman of the State Revenue Committee of the Ministry of Finance of Kazakhstan, Zhanibek Nurzhanov, elaborated on the innovations of the Tax Code, which is currently under consideration by the Mazhilis of the Parliament of Kazakhstan. The meeting was attended by Marat Murziyev, the Deputy Akim of Atyrau Region.
"The oil industry has historically served as a fundamental catalyst for our nation's economic landscape, continuously providing a significant proportion of fiscal revenues to the state budget. Our objective is to establish a taxation system that accommodates the interests of all stakeholders: the state, the business community, and society as a whole. "We face the challenges of developing an effective and equitable tax system that will foster sustainable industry growth, stimulate investments, and facilitate the implementation of innovative technologies," emphasized Minister of Finance Madi Takiyev in his address.
He underscored that the proposed new Tax Code will streamline the number of taxes and other mandatory contributions to the budget. It is anticipated that payments lacking significant fiscal returns will be eliminated, and certain payments will be consolidated. As part of comprehensive measures, a precise delineation of the concept of tax incentives is proposed.
The Vice Minister of National Economy, Azamat Amrin, conveyed that, in addition to fostering investment in new production facilities, the draft Tax Code also aims to sustain extraction operations in aging and depleting fields.
"Considering that the oil and gas and mining sectors constitute a significant portion of budget revenues, the new measures will facilitate stable revenue streams for the budget while also preserving jobs. "This is crucial for the development of regions with existing operations or the potential for exploring new fields," stated the Deputy Minister.
The Deputy Chairman of the Committee for State Revenue of the Ministry of Finance of Kazakhstan, Zhanibek Nurzhanov, stated that the new Tax Code proposes the elimination of scheduled inspections. The scheduling of such events will be determined based on an analysis of the taxpayer's activities. Furthermore, inspections will be transitioned to an electronic format.
"The strategic significance of digitizing tax administration was emphasized in the Address of the Head of State to the people of Kazakhstan. Therefore, to mitigate corruption risks and ensure transparency, the Ministry of Finance is accelerating the transition of tax-related processes to an electronic format," concluded Madi Takiyev.
As a result of the meeting, the parties reached a consensus that a constructive dialogue would facilitate the establishment of effective approaches to taxation and administration within the oil and gas sector in the draft of the new Tax Code.

Source : https://www.gov.kz/memleket/entities/economy/press/news/details/863238