The Majilis deputies approved amendments to the bill of Kazakhstan governing the conduct of the international exhibition EXPO – 2017 in Astana. This is reported by the correspondent of Kapital.kz business portal. 

As the Minister of Economy and Budget Planning of the RoK, Yerbolat Dossaev informed, the document provides for the exemption of construction of objects of exhibition from taxes.

“The bidding dossier provides for that construction of EXPO -2017 objects will be exempt from corporate income tax (CIT), tax on property and land,” the Minister said.

In addition, Expo -2017, a national company will also be exempt from these taxes. The tax relief will also be applied to organizations involved in the design and construction of the exhibition. List of companies will be determined by the government.

“These changes are necessary in order to fulfill the commitments made in the framework of the competition among the candidate countries to hold EXPO – 2017 “, Yerbolat Dossaev explained.

Certain preferences for taxes and relations are planned to be applied for non-residents, contractors and exhibitors. These benefits will be reflected in bidding dossier and in the See Agreement, which are to be signed by the Foreign Ministry of Kazakhstan and the International Exhibitions Bureau. In the following document will be submitted to the RoK parliament for ratification.

In general, the bill of Kazakhstan “On amendments to the legislative acts on issues of international specialized exhibition EXPO -2017 will be amends the following:

– Budget Code

– Code “On taxes and other obligatory payments to the budget”

– Law “On Employment”

– Law “On architectural, urban planning and construction activities in the Republic of Kazakhstan”

– Law “On the regulation of commercial activities”

– Law “On technical regulation”

– Law “On Special economic zones in the Republic of Kazakhstan”

– Law “On Migration”.

Source:  Kapital.kz business portal