Country Study, KAZAKHSTAN — страница 4

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Local companies and permanent establishments in Kazakhstan are generally required to withhold income tax from the payment of wages and salaries to their employees. Such entities are also generally required to make contributions to the Employment Fund, Social Insurance Fund and Pension Fund totaling up to 32% of the employeeís gross salary; other individuals are themselves required to contribute a total of 5% of their gross income to these funds. Value Added Tax ( VAT) VAT is applied at a rate of 20% on turnover arising from the sale of goods, works and services within the Republic of Kazakhstan, subject to a number of exemptions, including financial services and leases of land or buildings. VAT is now also applied to the import of goods. The export of goods is zero rated.

VAT on the acquisition of most fixed assets may now be reclaimed. VAT registration is required when turnover in any month exceeds 1000 monthly minimum wages (around $4,000). The new code also provides for a system of voluntary registration. Following registration, VAT must generally be accounted for monthly. Other Taxes Various goods (mainly alcohol, tobacco and luxury items) are subject to excise taxes if they are produced in or imported into Kazakhstan. The issue or transfer of ownership of shares is subject to a tax on securities transactions at rates between 0.1% and 0.5% of the sale price, or face value in the case of an issue of securities. A special regime for the taxation of mineral resource users is prescribed in the code. Those in possession of land or making use of

land are subject to a land tax. The tax is assessed by reference to the area, quality, type of land and the district or city in which the land is located. Owners and users of vehicles are subject to a tax on vehicles assessed by reference to the kilowatt power of the vehicle. Those owning or having rights over property are subject to a tax on property assessed by reference to the value of the property at a rate of either 0.1% or 0.5%. Social Protection After the disintegration of the social protection system from the USSR, Kazakhstan has faced two related tasks: 1. Prevent further disintegration of the positive aspects of the existing system of social protection; 2. Lay the foundation for social protection in a free market economy. This includes reducing the burden on states

budget for social expenditures, encouraging the population to make some of their own contributions toward their future pension plans, developing a private market for social services, ensuring pension provision, and executing targeted social assistance through transfers to the regional level. Recently, Kazakhstan has made a legal and complex program base for social protection of disabled pensions. The establishment of retirement age criteria is a problem. Currently men may work 25 years and women 20 years before being eligible for retirement. The population seems to feel that the age ceiling should be recommended rather than a mandatory work limit. The result has not been perfect, however, they are trying to be guided by the state system of social protection. The main focus point

has been the creation of a pension fund. This has been created in direct relation to the pensioners and their benefits after looking at the inflation rates. There are three main pensions that have been created in regard to this request: 1. Labor 2. Army 3. Social Labor is then divided into retirement, long-service, disability, and family pensions for loss of primary wage earner. However, senior citizens and juvenile invalids are also entitled to social pensions(http://www.undp.org/kazakstan.htm). There are nearly 3 million pensioners, and pensions account for nearly half of total cash benefit expenditures. Financing pension payments remains a problem due to a number of causes: falling production, delays in wage payment, evasion of payment of insurance contributions and untargeted

expenditures. These delayed payments build up quickly. Currently the debt is $3.3 billion. Another factor that has pulled the Pension Fund into near failure is the existence of numerous pension privileges, especially those dealing with early retirement.(anywhere from 5-20 years before the official age). This use of Kazakhstanís resources makes it difficult to increase pensions for those who really need and have earned them. It also serves to discredit the pension system. One-fourth of every pensioner is below the official age. Therefore the percentage of pensioners in the population has risen from 14% to 17% in the past two years. (http://www.worldbank.org.html) In addition to pensions, various types of allowances have also been established to help support families with