“Kazakhstan creates competitive, export oriented branches and productions. It develops favorable business environment and at the same time effectively uses state investments. The legislative base improves,” said Kazakh Prime Minister Karim Massimov during the conference “Central Asia. Investment opportunities. A New Silk Road” in Almaty on September 9.

“A new Tax Code will allow to create more competitive tax system in the region. Our tax policy is oriented to further economic modernization. It will be an effective instrument of stimulation of economic development, particularly in the non-primary sector,” Karim Massimov noted.

With account of the advanced experience Kazakhstan elaborated a new model based on introduction of a progressive taxation mechanism and simplification of tax administration procedures.

A conceptually new solution in this aspect is an introduction of the integrated customs control in 2009. This will reduce administrative barriers for international trade companies working in Kazakhstan.

“In the nearest future the Government will start elaboration of a new Tax Code. A breakthrough in diversification and increase of export potential of Kazakhstan’s economy will be provided by the program on corporate leaders adopted by the Government. The basic list includes 45 projects, 17 of them are infrastructural, 28 – production ones. 5 projects with a total budget of US$ 900 million will be completed this year,” the Kazakh Premier emphasized.