At the Government meeting Minister of National Economy of Kazakhstan Kuandyk Bishimbayev voiced a number of measures to improve transit potential and development of the financial sector of Kazakhstan, scheduled as part of the amendments to legislation acts on tax and customs administration.

"In order to increase competitiveness of the country’s transit potential there was proposed an amendment, according to which the rail-ferry transportation will refer to the international, and, therefore, subjected to VAT at zero rate. This regulation will stimulate transit carriage through Kazakhstan," K.Bishimbayev said.

The Minister also noted that the draft law provides amendments to the financial sector.

"The amendments are to assist borrowers that are in arrears to banks for mortgage loans within "Refinancing programs", K.Bishimbayev said.

In addition, according to him, they aim to reduce a level of bad debts in the loan portfolio of banks and strengthen protection of consumers of financial services through deleveraging for doubtful and bad loans.

www.primeminister.kz 

Published: 05 October 2016

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