Deputy Dastan Jumabekov presented an initiative to introduce new taxes on gold mining.
At a meeting of the committees of the Jogorku Kenesh, Jumabekov noted that the current situation requires a review of tax rates.
“In 2020, the price of an ounce of gold was $1550, and today it has risen to $4450. Meanwhile, our tax norms have remained the same. I propose to amend the Tax Code to increase taxes on gold mining, as well as raise the amounts of royalties and the rates of contributions to the funds that companies must pay,” he stated.
The head of the government, Adylbek Kasymaliev, responded that in 2012, when the Tax Code was updated, it was established that rates for the funds should increase proportionally to the rise in gold prices. Nevertheless, he promised to study this issue in more detail.
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