Kazakhstan sets up commission on capital recovery from abroad

A commission on recovery of the capital from abroad was established in Kazakhstan. Five working groups will analyze the outflow of the capital from the country. This was reported during a meeting chaired by Kazakh Prime Minister Alikhan Smailov. The measures include a proposal to empower the State Revenue Committee of the Kazakh Finance Ministry with the functions of exchange control. It was also offered to reimburse VAT charged to recovery in a simplified manner, subject to the conversion of foreign exchange earnings by 80 percent. Another measure could be the abolition of tax benefits when paying dividends to non-residents.

Translation by Saniya Sakenova

Editing by Galiya Khassenkhanova