Mobile transfers in Kazakhstan may be subject to VAT
The new Tax Code of Kazakhstan proposes to charge VAT of 12% on mobile transfers, which can significantly increase citizens' expenses.
According to the draft of the new Tax Code, it is planned to impose value added tax (VAT) on mobile transfers in Kazakhstan. If the initiative is accepted, then 12% will be charged from each transfer.
For example, when transferring 100,000 tenge, an additional 12,000 tenge will be withheld as tax. Moreover, similar taxes may be imposed on the servicing of bank cards, the issuance of plastic and other banking services. The Ministry of National Economy states that these costs should be covered by the banks themselves.
However, DEPUTY Askhat Aimagambetov believes that this is a misconception: "In practice, all costs will fall on the shoulders of ordinary citizens." The National Bank of Kazakhstan and the Association of Financiers also opposed this initiative. Despite the criticism, the norm was included in the draft code. The final decision will be made by the Government after considering the opinion of the public. However, this initiative is already causing a wave of discontent among Kazakhstanis, who fear a significant increase in financial costs. The Ministry of Economy has invited the public to discuss the initiative, and deputies urge citizens to actively express their opinions in order to stop its adoption.
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