The Ministry of Finance has specified the exact amount by which the taxable incomes of construction companies Bazis and BI Group have been understated.
“The revenue authorities have issued a notification to Bazis-A regarding the understatement of taxable income by 4.6 billion tenge, and to BI Group for 11.9 billion tenge,” the Ministry of Finance reported.
This work is being conducted as part of an analysis of mutual settlements between entities applying special tax regimes (STR) and companies operating under the general taxation system for the years 2022-2023, the agency explained.
“The analysis indicated that these companies are using STR to reduce their tax payments,” the Ministry of Finance emphasized.
As reported, on Friday, Prime Minister Olzhas Bektenov held a working meeting with Deputy Prime Minister - Minister of National Economy Serik Jumangarin and Minister of Finance Madi Takiyev, during which issues related to tax-budget reform and strengthening control over tax revenues were discussed.
In particular, the head of the Ministry of Finance reported that the ongoing analysis has revealed instances of using special tax regimes (STR) that were previously introduced to support and develop small businesses during their establishment, as legitimate schemes for optimizing tax liabilities by unscrupulous taxpayers.
“From the information provided by the Minister of Finance, it is clear that unscrupulous entrepreneurs, by employing various tax optimization schemes, are behaving inappropriately. With billion-tenge turnovers, they are paying amounts to the budget that are completely disproportionate to their profits. We have a complete list of such large companies, including well-known construction firms like BI Group, BAZIS, and many others. There are also famous and popular restaurants, fitness clubs, and various companies operating in other sectors of the economy,” the head of government noted in this regard.
Bektenov appealed to the owners and leaders of large companies that are applying various tax optimization schemes.
“Today or tomorrow, your companies will receive notifications from the tax authorities about the need to pay additional tax amounts. I urge everyone to submit additional tax declarations to the tax authorities within two weeks and pay fair tax amounts,” the head of the Cabinet warned.
According to the Prime Minister, if these actions are not taken, the state reserves the right to apply all available resources, including fiscal and law enforcement measures.
“The conversation will be tough, but we are ready for dialogue if businesses are prepared to act fairly towards the state,” Olzhas Bektenov emphasized.