Kazakhstan'S Ministry Of Trade And Integration Proposes Tax-Free Policy For E-Commerce

International news agency, Nursultan, July 28 (Xinhua) - Kazakhstan's minister of trade and integration, surdanov, said at the government meeting on the same day that the new crown pneumonia epidemic promoted the rapid growth of e-commerce business, the sales of B2C increased significantly, and the activity of online retail increased.

According to the data of Harbin post, in the first half of 2020, Kazakhstan's e-commerce market reached 435 billion tenge, a year-on-year increase of more than 50%, equivalent to 9.4% of the total retail sales of consumer goods in the same period. The total retail consumption of tenge will reach 1.39 billion yuan in 2029, accounting for 13.1 billion yuan in the total retail market. The government has previously set the goal of increasing the proportion of e-commerce to 10% by 2025. Under the current isolated conditions, online shopping is growing rapidly, and this year will be close to achieving this target. The Ministry of trade and integration will take measures to continue to maintain the development speed of e-commerce, and study and revise the national trade development plan for 2021-2025 to adjust the target of e-commerce share to 15% in 2025.

Suldanov pointed out that due to the implementation of segregation measures, the scale of e-commerce and non cash payment transactions continued to expand. According to the statistics of Kazakhstan central bank, as of May 2020, the amount of non cash transactions increased by more than 150 trillion yuan. In order to promote the development of non cash payment, it is necessary to work with the central bank to reduce the service charges of inter-bank transfer and collection business, and develop a new non bank payment system.

Suldanov said that in order to further promote the development of e-commerce, it is suggested to amend the tax code accordingly: if the e-commerce business income of an enterprise or individual business exceeds 40% of its annual total revenue, the enterprise or individual business operator shall be exempted from the enterprise income tax and the individual income tax shall be exempted from the individual operator. At present, there are more than 2000 online stores in Kazakhstan, but only 601 can get income tax exemption.