Rising taxes and market value appraisal

Despite tax holidays for small businesses, tax revenues to the budget continue to grow.

According to data published on Forbes.kz, in the first four months of 2022, 4.9 trillion tenge in taxes were collected into the state budget. This is almost half of the total revenue for the entire previous year (in January–December 2021, the figure was 10.7 trillion tenge). Compared to the same period last year, the growth amounted to a significant 61.6%, reports Finprom.kz.

For the full year 2021, despite the pandemic and tax holidays for small businesses, the total amount of taxes collected exceeded 2020 figures by 2.1 trillion tenge (plus 25.3%).

Tax revenues to the state budget increased due to the growth in income taxes, which accounted for 43% of total revenues, as well as domestic taxes on goods, works, and services (including VAT, excises, etc.), which accounted for 33% of total tax revenues to the budget.

Source: Forbes.kz

For tax purposes, owners may need to determine the market value.

The team of experts at PKF Valuation of Property conducts independent valuation of businesses, tangible and intangible assets, and movable and immovable property in accordance with Kazakhstan and international standards.

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