OREANDA-NEWS. November 24, 2014. The Senate of Kazakh Parliament has considered in two readings and adopted the Law “On introducing amendments and additions to some legislative acts of the Republic of Kazakhstan on taxation matters” in the plenary session.

"The purpose of the bill is to create a favorable business environment and conditions for further sustainable socio-economic development of the country. For the development and expansion of business we offer to carry out a tax amnesty by remission of fines and penalties writing down the amounts of fines accumulated at the expense of taxpayers as of January 1, 2014 and unpaid as of October 1, 2014," Minister of National Economy of Kazakhstan Yerbolat Dossayev said submitting the bill.

Minister said that the tax amnesty does not apply to large taxpayers who are on the national monitoring, and carry out activities in the sphere of subsoil, gambling and production of excisable goods.

Taxation procedure is being reformed to stimulate agricultural processing and enhance the competitiveness of ACS facilities. Rates of single land tax for farms are increasing by 1.5 times with the release of their fees for emissions into the environment, for corporate agricultural producer land tax rate have been increased 5 times. Local governments are invited to submit personal income tax on income not subject to withholding tax, tax on property and transportation of individuals, the land tax from individuals on land settlements. It is invited to provide JSC "NC "Astana EXPO 2017" with tax benefits before 2017.