Ministry of Finance will strengthen control of major exporters of grain

The Majilis has presented a draft law that will strengthen control over pricing of major export items, including grain, World of NAN reports.

The reason for the introduction of the draft law was the cases of underpricing of such exported goods as oil and grain from Kazakhstan. The Ministry of Finance aims to adjust the income of exporters and charge the appropriate tax.

"Transfer pricing is the control over the prices of goods extracted in Kazakhstan. Given that we have an extractive country, we must adequately collect the amount of taxes at a fair price," said Vice Minister of Finance Yerzhan Birzhanov.

The draft law was approved by experts of the OECD, business associations, the National Chamber. Now there is a discussion of the project in the Majilis, perhaps there will some adjustments.

"In particular, prior to this companies used various schemes. We are making appropriate changes taking into account the data revealed during their inspection. The norms of this bill will not affect ordinary people, small and medium businesses in any way. The changes are intended for export-oriented giants. They are aimed at collecting real tax on export goods," concluded Y. Birzhanov.

If this amended law is enacted, additional taxes will flow into the budget.

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