On August 11, Prime Minister of Kazakhstan Alikhan Smailov held a government meeting to discuss development algorithms of the machine building industry and approved the constructive proposals for optimisation of activities and support of domestic manufacturers, the press office of the Prime Minister of the Republic of Kazakhstan reported to CentralAsia.news.
It was noted that the VAT payment scheme was extended till 2024 by offsetting when importing raw materials, materials and other components with the aim to support machine building enterprises.
The representatives of the Union of Machine Builders of Kazakhstan proposed to supplement the list of the goods which attract VAT at importation with domestic metal products and equipment which are in high demand among investment projects. It was proposed to increase the number of processing enterprises with the accelerated VAT refund mode.
The Prime Minister supported the proposed measures and instructed the relevant departments to work out appropriate solutions.
“It is very important for the national economy to improve competitiveness of domestic manufacturers. For these purposes, the radius of state support will be extended to pay special attention to increasing local content in procurements,” Alikhan Smailov said.
