2023-07-27 19:24News

Kazakh Government Approves Action Plan to Combat Shadow Economy

Shadow economy

Prime Minister Alikhan Smailov signed a decree on approval of the comprehensive action plan to combat the shadow economy for 2023-2025, the Prime Minister’s press service reported on July 26.

By 2025, Kazakhstan plans to reduce the shadow turnover in wholesale and retail trade to 5%, which stood at 6.7% last year. The government intends to bring this figure in transport and warehousing to 2.4% from 3.2% recorded in 2022.
 
The plan, drawn by Kazakhstan’s Financial Monitoring Agency and government stakeholders, includes systemic measures to improve tax and customs administration, ensure effective competition and budget distribution, and protect the population from illegal businesses.
 
These actions will make customs inspections more effective, optimize customs
procedures and develop additional measures for administrative offenses.
The plan compiled as part of the President’s election program provides for reducing informal employment and suppressing illegal activities. Kazakhstan is set to increase the share of small and medium-sized businesses in the GDP from 36% in 2022 to 37.5% in 2025.
 

About the Embassy

The Embassy of the Republic of Kazakhstan in the Kingdom of Sweden and in the Kingdom of Denmark was opened on March 8, 2014 by direct decree of the President of the Republic of Kazakhstan with a view to strengthening diplomatic relations. The site is introduced to keep the wide public informed on activity of the diplomatic mission in Sweden, and to provide information support for the citizens of Kazakhstan who live in Sweden and foreigners who are going to visit Kazakhstan as tourists or businessmen.

Contacts

Aibek Yessey
Attache
Aibek Yessey
The Embassy of the Republic of Kazakhstan
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