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Tокаев instructed to review the VAT rate and outlined priorities for economic development

Submitted by Вера Александрова on

Kassym-Jomart Tokayev held a major meeting with representatives of the business community, where he outlined the country's strategic development priorities and announced a revision of tax policy. The head of state acknowledged that the previously proposed VAT rate was too high and instructed the government to develop a differentiated approach taking into account the specific characteristics of various sectors of the economy.

During the meeting, the President emphasised the particular importance of the partnership between the state and business as the foundation of the country's economic development. This interaction is becoming especially relevant in the context of the strategic task set – strengthening the economy to preserve and enhance Kazakhstan's leading role in the region.

According to the head of state, Kazakhstan has entered an era of new meanings and approaches to solving the key tasks of our time. Established stereotypes are becoming a thing of the past, which requires a fundamental restructuring and adaptation to new realities. The President particularly noted that this transformation is directly linked to the well-being of the state and future generations.

Speaking about specific development directions, the president highlighted several key priorities. These include the implementation of major infrastructure and industrial projects, the active introduction of digital technologies and artificial intelligence, as well as the modernisation of the transport and logistics system. It was stressed that support for small and medium-sized businesses will remain one of the main priorities of the government.

Special attention during the meeting was paid to the issue of tax policy. The president instructed the government to further review the issue of the VAT rate, emphasising the need for a differentiated approach.

"Any innovations must be carried out on the basis of comprehensive analysis and a well-thought-out strategy", the head of state noted.

He also pointed out the importance of considering the opinions of all interested parties: qualified experts, entrepreneurs and deputies.

The president acknowledged that the VAT rate previously proposed by the government was too high, and stressed the need to find an optimal solution that would ensure both favourable conditions for business and stable growth in budget revenues.

In conclusion, it is worth noting that the meeting demonstrated the state's readiness for a constructive dialogue with the business community and its desire to develop balanced solutions in the interests of all participants in economic relations. The outlined course towards economic modernisation, while maintaining stability and taking into account the interests of business, creates a solid foundation for further strengthening Kazakhstan's position as a regional leader.