Deputy of the Mazhilis, Aschat Aimagambetov, criticized the Ministry of Economy's initiative to impose VAT on all payment transactions. He believes that if the provision proposed in the new Tax Code project is adopted, such transfers could become nearly 12% more expensive. The costs of servicing plastic cards, transfers from card to card, from account to account, remittances, and banking services could significantly rise.
He expressed doubt that banks would absorb these costs, as claimed by the economic department: “Let’s be honest – that’s a myth. Banks will never miss an opportunity to pass on expenses to their customers. They are not charitable organizations.”
The deputy noted that the initiative was not supported by either the National Bank, the Association of Financiers, or the National Chamber of Entrepreneurs.
In the publication by the Mazhilis member, it is stated that these changes will not only increase our expenses but also undermine trust in the financial system. This initiative will affect everyone.
In summary, Aschat Aimagambetov expressed confidence that the budget deficit should be covered by saving on less critical expenditures, abolishing benefits, and raising taxes for "sectors that receive superprofits," as well as increasing corporate income tax for banks.