Tax and Budget Codes reach second stage of approvals

Astana, 9 October 2008, (Khabar) - Mazhilis deputies have released Budget and Tax Code projects from the first stage. All the documents are set to have an important role in the development of the local economy and its creators.

The ministry for the economy and budget planning has made
assurances that new editions of the codes will help solve missions on the
diversification of the economy commissioned by the president and will become
the basis for a three year budget fulfillment programme. For example, the
new budget code will enable more systematic control to be taken with the use
of public money. The accounts committee and the commissions of the
maslikhats are to track the implementation of state programmes and then
estimate whether the result justifies the expense or not.

Bakhyt Sultanov, Minister for Economy and Budget Planning:
- The new budget code project is open and transparent. For example the state
financial control system is based on the principles of glasnost and so the
results should be made public.

The project is still likely to undergo several amendments.
The tax code project is designed to assist in solving the problems
associated with the economy's diversification and decreasing the tax load on
the non raw material sector.

Nurlan Nigmatulin, deputy of RK Parliament Mazhilis:
- The idea of the new tax code is to spread the tax basis, allow an increase
in the number of small and middle sized businesses and increase budget
revenues.

The Mazhilis members also accepted the resignation of their colleague Viktor
Tsoi, who was elected from the Assembly of the people of Kazakhstan. He has
decided to stop his activities as a Mazhilis deputy before his term is
complete.






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